What is Elon Musk’s current net worth? Tesla and SpaceX plummet, the world’s richest man loses nearly $130 billion
Elon Musk remains the world’s richest man, but his fortune has taken a huge hit over the past week. according to Forbes real-time billionaire listAs of July 24, 2026, Musk’s net worth was US$725.1 billion, firmly ranking first in the global wealth rankings.
fell sharply afterwards Tesla Shares suffered their worst week in years, with SpaceX shares falling below their IPO price.
Although Musk continues to hold large stakes in both companies and remains well ahead of other billionaires, these declines wiped out approximately $130 billion from his wealth in just one week.
Why has Elon Musk’s net worth dropped?
Much of Musk’s wealth comes from SpaceX and Tesla, so the decline in both stocks has a direct impact on his wealth. Tesla shares fell 18% this week, its worst weekly performance since 2022. Investors reacted after the company missed second-quarter profit expectations.
Although revenue rose to $28.2 billion, adjusted earnings per share were 33 cents, well below analysts’ expectations of 50 cents. Tesla also reported negative free cash flow for the first time in two years as the company continues to invest in robotaxis, Optimus Prime humanoid robots and AI Chip factory.
The sell-off got worse after the earnings release. Tesla fell 14.1% in a single day, and Musk’s net worth shrank by about $18.6 billion.
On the earnings call, Chief Financial Officer Vaibhav Taneja said the company still plans to spend $25 billion this year, while CEO Elon Musk described 2026 as a “massive capex year.”
How does SpaceX’s decline compound Elon Musk’s losses?
The pressure on Tesla doesn’t stop. SpaceX has now fallen below its IPO price after debuting on the stock market last month. The stock closed at about $115, more than 43% below its peak, as repeated delays in Starship test flights raised new concerns among investors.
Musk becomes world number one billionaire SpaceX went public in June, but recent losses have put his wealth well below that record. This week, Musk even joked about calling himself a “(former) trillionaire” in a post on X.
Investors are currently paying close attention to two major events, the next Starship test flight and SpaceX’s first earnings report on August 4, which may affect the company’s stock price.
Also read: Elon Musk on track to become first trillionaire after SpaceX IPO
More information about Elon Musk’s wealth and business
Musk55 years old, lives in Austin, Texas, father of 14 children. He is the co-founder of 7 companies including Tesla, SpaceX and xAI.
He owns approximately 38% of SpaceX (including stock options) and nearly 11% of Tesla (excluding unvested shares from 2018 performance awards). He also holds shares in Neuralink and The Boring Company.
Despite recent losses, Musk’s fortune remains largely built on the long-term value of SpaceX and Tesla. For now, he remains comfortably ahead of all other billionaires, although investors will be watching closely to see whether both companies can regain momentum in the coming weeks.
