From IPO euphoria to a 30% plunge
SpaceX went public on June 12, 2026, at a valuation of roughly $2 to $2.2 trillion, briefly making Elon Musk the world’s first trillionaire. His peak net worth reached between $1.1 and $1.45 trillion as shares climbed to $225.64 by June 16.
Then the broader tech sector sold off. By June 23-24, SpaceX shares had fallen to between $154 and $156-a decline of about 30% in just over a week. The drop erased an estimated $300 to $350 billion from Musk’s personal wealth, pulling his net worth down to around $956.5 to $957 billion.
Still the richest person alive
Despite the plunge, Musk remains the world’s richest individual by a wide margin. His fortune is overwhelmingly concentrated in a 41% stake in SpaceX and a roughly 20% stake in Tesla.
What it means for crypto and concentration risk
The drawdown highlights a concentration risk: a 30% move in one asset can vaporize hundreds of billions. Bitcoin’s market cap has often been compared to Musk’s net worth, and the episode underscores how both can swing wildly on sentiment shifts. The tech sell-off also reinforces the growing correlation between technology stocks and digital assets during risk-off episodes.