Musk Net Worth Drops Below $900B on SpaceX Slide

Elon Musk’s net worth dropped to $879.3 billion on Monday, falling below the $900 billion threshold after a continued decline in SpaceX shares. The single-day pullback erased $37.9 billion from his fortune, though he retains his position as the world’s wealthiest individual by a wide margin.

The wealth contraction is tied directly to Musk’s massive equity stake in the newly public rocket maker. He holds 4.8 billion SpaceX shares alongside 350 million stock options, supplemented by roughly 700 million Tesla shares. Google cofounders Larry Page and Sergey Brin trail distantly in the global wealth rankings, with respective net worths of $290.1 billion and $267.6 billion.

SpaceX stock has experienced severe volatility since its record-setting market debut last month. After hitting an all-time high above $225 the day after its initial public offering, the shares have dropped in 11 of the 17 subsequent trading sessions. The stock is now down more than 38% from that peak, dragging Musk’s total wealth down from its June 16 high of $1.45 trillion.

For market participants, the critical question is whether the post-IPO sell-off represents a structural revaluation or a temporary market dislocation. The current share price now sits notably below the average broker price target of $236, according to FactSet data.

Wall Street forecasts remain heavily skewed toward the upside. Morgan Stanley expects the shares to reach $300, while Goldman Sachs has a $205 target and Arete Research projects $401. Raymond James is the most aggressive, issuing an $800 price target that implies a market valuation well above $10 trillion.

Analysts justify these premiums by pointing to SpaceX’s expansion beyond traditional aerospace. Raymond James analyst Brian Gesuale argued the company is "building the foundational platform for the next generation of industrial capacity." Wedbush Securities analyst Dan Ives called SpaceX "one of the most differentiated assets within the tech market," adding that it is "well-positioned to become a major hyperscaler" across connectivity, rocket launches and AI infrastructure.

The stark contrast between SpaceX’s recent share price trajectory and its projected valuations underscores the high-risk, high-reward nature of the stock. While the 38% slide has wiped out hundreds of billions in paper wealth, institutional consensus suggests the market ultimately views the company as a cornerstone infrastructure play rather than a traditional industrial manufacturer.