Approximately $650 billion to $700 billion of Elon Musk’s net worth has evaporated over a five-week period as both Tesla and SpaceX stock prices experienced significant declines.
24/7 Wall Street reports that six weeks ago, Elon Musk held the distinction of being the wealthiest person in recorded history. On June 16, shortly after SpaceX completed its IPO, the aerospace company reached a market capitalization of $2.64 trillion, pushing Musk’s wealth on paper to approximately $1.45 trillion. However, by the close of trading on July 23, the Bloomberg Billionaires Index valued his holdings at roughly $738 billion, representing a loss of between…
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