Topline<\/p>\n
A setback in Starship\u2019s latest launch attempt lowered SpaceX shares to another all-time low on Friday, extending a losing streak for the stock and lowering Elon Musk\u2019s net worth by more than $45 billion, after Wall Street appeared optimistic about the firm\u2019s launch capabilities.<\/p>\n
Another attempt will come \u201chopefully in a few days,\u201d Musk said. <\/p>\n
Copyright 2026 The Associated Press. All rights reserved.Key Facts<\/p>\n
Shares of SpaceX declined 4.4% to around $125 shortly after trading opened on Friday, potentially extending a five-day losing streak for the stock, which cut its value by 14.5% as of Thursday.<\/p>\n
Musk, who holds 4.8 billion SpaceX shares and another 350 million stock options, saw his net worth drop by $45.3 billion to $792.8 billion, though he remains the world\u2019s richest person ahead of Google co-founders Larry Page ($282 billion) and Sergey Brin ($260.1 billion).<\/p>\n
An extended selloff on Friday followed Musk\u2019s announcement<\/a> that Starship\u2019s 13th launch, scheduled for Thursday evening, was aborted after some of the rocket\u2019s engines failed to start and that another launch attempt would come \u201chopefully in a few days.\u201d<\/p>\n In a later post<\/a> on X, Musk said the \u201cmost probable launch timing is early next week.\u201d<\/p>\n UBS analyst Gavin Parsons wrote in a Wednesday note that a recent slide in SpaceX shares presented an opportunity to invest in the stock ahead of the Starship launch, which Parsons said could boost shares and \u201cdemonstrate multiple new milestones and, in our view, be a positive for the stock.\u201d<\/p>\n The Starship launch\u2014SpaceX\u2019s first test flight since its initial public offering\u2014was also important because it was \u201cintended to validate\u201d capabilities required of the rocket\u2019s launch ramp, including booster engine relight ability and updated Starlink deployment, Parsons wrote.<\/p>\n surprising fact<\/p>\n Musk\u2019s net worth is now smaller than it was before SpaceX\u2019s record-setting IPO, falling below the $813 billion his fortune was valued at as of June 3. The trading debut for Musk\u2019s rocket maker made him the world\u2019s first trillionaire, and his wealth peaked at $1.45 trillion when SpaceX shares hit an all-time high on June 16, marking a nearly $700 billion decline as of Friday.<\/p>\n what to watch for<\/p>\n