{"id":824353,"date":"2026-07-25T02:22:09","date_gmt":"2026-07-25T02:22:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/824353\/"},"modified":"2026-07-25T02:22:09","modified_gmt":"2026-07-25T02:22:09","slug":"elon-musk-confirms-former-trillionaire-status-as-spacex-plunges-50","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/824353\/","title":{"rendered":"Elon Musk confirms former trillionaire status as SpaceX plunges 50%"},"content":{"rendered":"\n

On July 24, Elon Musk<\/a> confirmed on X<\/a> that he is now a former trillionaire. <\/p>\n

The tech tycoon’s wealth skyrocketed following the initial public offering (IPO) of\u00a0SpaceX<\/a>\u00a0(Nasdaq: SPCX) more than a month ago on June 12. <\/p>\n

The space technology and artificial intelligence (AI) company also disclosed<\/a> in its filing that it holds\u00a018,712 Bitcoin<\/a> (BTC) on its balance sheet. As Bitcoin trades at $64,151.11, these holdings are currently worth $1.2 billion. Musk himself has often talked positively<\/a> of cryptocurrencies like BTC. <\/p>\n

Related: SpaceX stock hits an all-time low below IPO price, what it means for its 18,712 BTC<\/a> <\/p>\n

The SpaceX stock made a blockbuster Nasdaq debut and hit the all-time high (ATH) of $225.64 on June 16. Musk turned from the world’s leading billionaire to its first trillionaire following the stock price surge. <\/p>\n

But the SpaceX stock has since plunged by 50% and was trading at $114 at the time of writing. The plunge has led to a decline in Musk’s wealth too, and he just confirmed that he is no longer a trillionaire. <\/p>\n

Trending on TheStreet Roundtable: SpaceX contract on Hyperliquid also plunges 50% from peak <\/p>\n

The decline in the SpaceX stock’s price is also reflected in the related\u00a0contracts being traded by crypto traders. <\/p>\n

SpaceX-linked contracts on Hyperliquid<\/a>,\u00a0the\u00a0decentralized exchange<\/a> built primarily to trade high-leverage perpetual futures, found a large number of takers among crypto traders. <\/p>\n

The SpaceX contract on Hyperliquid tracks the value of 1 share of common stock in SpaceX. The contract’s price action closely mirrors that of the Nasdaq-listed stock, whether it’s a surge or a crash. <\/p>\n

<\/a> SPCX-USDC, Source: Hyperliquid <\/p>\n

While the SPCX-USDC pair hit the ATH of $228.74 on June 16, it was trading at $114.50 at the time of writing\u2014again, a decline of 50%. <\/p>\n

The contract had a trading volume of $227 million and an open interest of $164 million within the last 24 hours. <\/p>\n

Related: Wall Street’s bullish ratings fail to lift Musk’s SpaceX contract<\/a> <\/p>\n

This story was originally published by TheStreet<\/a> on Jul 24, 2026, where it first appeared in the MARKETS<\/a> section. Add TheStreet as a Preferred Source by clicking here.<\/a> <\/p>\n","protected":false},"excerpt":{"rendered":"On July 24, Elon Musk confirmed on X that he is now a former trillionaire. The tech tycoon’s…\n","protected":false},"author":2,"featured_media":824354,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23],"tags":[276,49,48,250,66,306,235873],"class_list":["post-824353","post","type-post","status-publish","format-standard","has-post-thumbnail","category-space","tag-artificial-intelligence","tag-ca","tag-canada","tag-elon-musk","tag-science","tag-space","tag-spacex-stock"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/824353","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=824353"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/824353\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/824354"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=824353"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=824353"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=824353"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}