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Musk's Net Worth Slides Below $700B Amid Stock Plunge

7/28/2026

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Summary

Story summary

Elon Musk's net worth fell below $700 billion after SpaceX shares dropped 4.8% to $109.50 on July 27 2026, reducing his fortune by $29.5 billion.
Tesla shares fell 15% to $307 after the second-quarter earnings report, a 30% drop from start of the year.
Deutsche Bank lowered its Tesla target price to $420 from $465.
Morgan Stanley warned that a SpaceX price below $100 would imply no value for the firm’s AI business.

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Story summary

Elon Musk's net worth fell below $700 billion after SpaceX shares dropped 4.8% to $109.50 on July 27 2026, reducing his fortune by $29.5 billion.
Tesla shares fell 15% to $307 after the second-quarter earnings report, a 30% drop from start of the year.
Deutsche Bank lowered its Tesla target price to $420 from $465.
Morgan Stanley warned that a SpaceX price below $100 would imply no value for the firm’s AI business.