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Elon Musk Falls Below $700 B, Loses $750 B Fortune

7/29/2026

50 6 Full Breakdown

Summary

Story summary

Elon Musk, SpaceX and Tesla CEO, posted “(Former) Trillionaire” on X on July 24 after his net worth fell below $700 billion, Forbes estimating $695.7 billion.
His fortune lost about $750 billion, wiping out the $1.45 trillion peak reached six weeks earlier.
SpaceX shares fell 4.8% to $109.50 on Monday, extending a 50% decline since June 16.
Tesla stock dropped 14.5% on July 23 after earnings of $0.33 per share missed the $0.51-$0.54 forecast.

History

Historical Context

In March 2000 the Nasdaq peaked at 5,048.62 and fell 78% by October 2002, erasing billions of tech fortunes. Cisco and Amazon stocks dropped 80% and over 90%, halving Jeff Bezos’s net worth. The July 2024 decline in Elon Musk’s wealth after SpaceX and Tesla setbacks mirrors that bust, prompting renewed regulatory scrutiny.

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Story summary

Elon Musk, SpaceX and Tesla CEO, posted “(Former) Trillionaire” on X on July 24 after his net worth fell below $700 billion, Forbes estimating $695.7 billion.
His fortune lost about $750 billion, wiping out the $1.45 trillion peak reached six weeks earlier.
SpaceX shares fell 4.8% to $109.50 on Monday, extending a 50% decline since June 16.
Tesla stock dropped 14.5% on July 23 after earnings of $0.33 per share missed the $0.51-$0.54 forecast.

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