Elon Musk lost about $500 billion due to falling SpaceX shares
фото: Reuters
American entrepreneur Elon Musk’s fortune has been wiped off by an estimated $500 billion as SpaceX’s stock price plummeted, making him the first person in history to lose that much of his net worth.
This is reported by Benzinga .
According to the publication, SpaceX shares have fallen below their initial public offering (IPO) price in less than a month. Since a significant part of Elon Musk’s capital is tied to his shares in his own companies, the fall in their market value has directly affected his personal fortune.
Journalists note that Musk became the first person in history to lose about $500 billion in equity.
Despite a record decline in his fortune, Elon Musk remains one of the richest people in the world. After the fall in asset values, his fortune is estimated at around $800 billion.
The publication notes that this situation demonstrates the dependence of the wealth of the richest entrepreneurs on the market capitalization of their companies. Fluctuations in the value of shares can significantly change the valuation of assets even in a short period of time.
Recall that in June, SpaceX entered the stock market, at which time the rocket company was valued at over $2 trillion, which is why Musk became the world’s first trillionaire .
However, later, the fortune of American entrepreneur and inventor Elon Musk decreased to $957 billion after the stock prices of his company SpaceX lost value.
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