The pullback follows a meteoric rise that saw Musk’s wealth peak at $1.32 trillion on June 16, shortly after SpaceX’s massive $75 billion IPO. Shares of the aerospace giant, which initially soared to $225.64, have since retreated to $156. Monday proved particularly bruising as the stock tumbled 16 percent, a drop triggered by the company’s announcement of a $25 billion bond sale intended to fund AI initiatives and refinance debt across Musk’s broader business empire.
S&P Global Ratings analysts caution that SpaceX will likely remain cash-flow negative until 2029, even as Starlink and government contracts drive revenue. Compounding the pressure, Tesla shares have slipped over 7 percent this year, further eroding the billionaire’s total holdings. Despite the reversal, Musk maintains a comfortable lead over Google co-founders Larry Page and Sergey Brin. Market watchers are now bracing for December, when the expiration of insider lockup periods could invite further volatility for SpaceX stock.
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