{"id":493247,"date":"2026-06-24T13:02:20","date_gmt":"2026-06-24T13:02:20","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/493247\/"},"modified":"2026-06-24T13:02:20","modified_gmt":"2026-06-24T13:02:20","slug":"spacexs-drop-off-sees-elon-musks-net-worth-fall-240-billion-roughly-the-same-value-as-computing-giant-ibm","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/493247\/","title":{"rendered":"SpaceX\u2019s drop-off sees Elon Musk\u2019s net worth fall $240 billion\u2014roughly the same value as computing giant IBM"},"content":{"rendered":"\n

Elon Musk\u2019s rocket company SpaceX<\/a> made him a trillionaire\u2014the first on the planet. The historic IPO of the company earlier this month, which aims to make humanity a spacefaring civilization, saw the richest man on the planet\u2019s net worth hit $1.1 trillion.<\/p>\n

Space Exploration Technologies Corp. (SpaceX) is already among the world\u2019s most valuable companies<\/a>, briefly surpassing Amazon<\/a> in the days following its market float when it soared to a valuation of $2.78 trillion.<\/p>\n

Musk owns approximately 5 billion shares in the company<\/a>, meaning that a vast portion of his net worth is tied to the exploratory business. Despite SpaceX gaining some 20% in its first day of trading, a reality check soon sent its stock price downward. The stock lost 16.43% yesterday, a selloff of approximately $400 billion. Its market cap currently sits at $2.03 trillion.<\/p>\n

A further dampener on Musk\u2019s fortune is the value of shares for EV maker Tesla<\/a>. Over the past month, Tesla shares have been down 6.6%, and by more than 7% for the year to date.<\/p>\n

In turn, Musk\u2019s net worth has dropped from a peak of $1.32 trillion to $1.08 trillion at the time of writing, per the Bloomberg Billionaires Index<\/a>. The drop\u2014between June 16 and a week later\u2014is some $240 billion.<\/p>\n

The eye-watering figure is roughly the market cap of (if not a little more than) global technology company IBM<\/a>, according to data from Trading Economics<\/a>. In 2024, IBM reported<\/a> it employed approximately 270,000 people.<\/p>\n

While the impact on Musk\u2019s portfolio is fantastical, the fact remains that the entrepreneur is still the wealthiest individual on the planet and is still the only trillionaire on earth.<\/p>\n

There\u2019s also plenty of room for Musk to grow his wealth even further: When\u00a0SpaceX<\/a>\u00a0published its S-1 on May 20<\/a>, it revealed that on top of his current SpaceX holdings, Musk will be awarded an additional 1 billion restricted shares<\/a> of class B common stock if he hits\u00a015 market capitalization milestones<\/a>\u00a0up to a value of $7.5 trillion and establishes a \u201cpermanent human colony on Mars with at least 1 million inhabitants.\u201d<\/p>\n

Even the most bullish average investors will be watching for fluctuations in their portfolios. Some managers have avoided SpaceX, such as Danish pension fund AkademikerPension. Ahead of Musk\u2019s company going public, the $25 billion group said SpaceX was \u201cgrossly overvalued\u201d and had a \u201ccatastrophic governance structure,\u201d Bloomberg reported<\/a>.<\/p>\n

Other managers have highlighted SpaceX as a \u201conce-in-a-generation\u201d event, with an unprecedented impact in both scale and market impact. U.S. Bank\u2019s Kaush Amin, managing director and head of private market investing, was clear on the risks (\u201celevated valuation, governance, and volatility\u201d) but also its potential: \u201cThe IPO prices in long-term dominance across telecom, AI infrastructure, defense, and aerospace.\u201d<\/p>\n

The next trillionaire? <\/p>\n

Of course, once someone joins the billionaire club, or the hundred-billion club, or the trillionaire club, the question that follows is: \u201cWho\u2019s next?\u201d<\/p>\n

Prediction market bettors on Kalshi<\/a> are already making their thoughts known on that subject. At the time of writing, Nvidia<\/a> CEO Jensen Huang is leading the polls to be the next trillionaire with odds of 50%.<\/p>\n

At present, Huang has a net worth of $173 billion, up $18 billion this year. Huang\u2019s fortune is derived from the share price of the chipmaker he founded and now leads, which is up 10.5% for the year to date.<\/p>\n

Meta<\/a> founder and CEO Mark Zuckerberg is also an option, according to Kalshi. Zuckerberg has odds of 23% at the time of writing, and a net worth of $201 billion. His fortune is down $32 billion, per Bloomberg calculations, in 2026 so far. Social media giant Meta has seen its share price sink by 13% for the year to date.<\/p>\n

This story was originally featured on Fortune.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Elon Musk\u2019s rocket company SpaceX made him a trillionaire\u2014the first on the planet. The historic IPO of the…\n","protected":false},"author":2,"featured_media":493248,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23],"tags":[158115,516,20095,111,139,69,147,392,1503,88920,92643],"class_list":["post-493247","post","type-post","status-publish","format-standard","has-post-thumbnail","category-space","tag-bloomberg-billionaires-index","tag-elon-musk","tag-net-worth","tag-new-zealand","tag-newzealand","tag-nz","tag-science","tag-space","tag-spacex","tag-tesla-shares","tag-trillionaire"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/493247","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=493247"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/493247\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/493248"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=493247"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=493247"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=493247"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}