Story thread · 10 reports / 8 sources

Elon Musk loses nearly half of his wealth as SpaceX shares crash 46%. More downside ahead?

economictimes.indiatimes.com · 10dShare

After briefly becoming the world’s first-ever trillionaire last month, Elon Musk has now lost nearly half of his wealth as shares of SpaceX crashed 46% from its peak following the company's mega market debut.Musk’s wealth peaked at around $1.33 trillion on June 16, when SpaceX shares soared to a lifetime closing high of nearly $202 apiece. However, as the shares crashed, Musk’s net wealth dropped to $684 billion, Bloomberg reported. Notably, the over $600 billion wealth erosion is higher than any other billionaire's total wealth, except Musk himself.SpaceX shares tumbleAfter raising $75 billion in the biggest-ever IPO in history, SpaceX began trading at $150 per share in June, marking an 11% premium to its IPO price of $135. After listing, the shares of the company sharply surged more than 50% in just three sessions. The shares of the Elon Musk-led company now have fallen around 46% since then to a record low of $108.37 apiece.However, the stock may see some more strong selling ahead a

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