Elon Musk, the world’s first trillionaire, has witnessed a major decline in his net worth after SpaceX (ticker SPCX) underwent a significant market crash during the last 30 days. Musk’s SPCX holdings were worth roughly $840 billion at one point but reportedly crashed by 40%, pulling his total worth below the trillion-dollar mark. All of this occurred while Bitcoin remained largely stable.
Crypto analytics firm Arkham tweeted regarding this development:
SpaceX underwent one of the largest Initial Public Offerings (IPOs) in history, with the initial stock price set at $160. The value soon exploded, and by June 16, 2026, it rose to as high as $225, making Musk officially the first trillionaire in history. However, the bears soon came into the setup and spoiled Musk’s party.
Here is the SPCX/USD price action since its launch:
The stock came crashing down in the ensuing days and found support at $150, below the IPO launch price. It languished around this level for a few more weeks before dropping even further, and now it is trading below the $140 valuation at press time. Musk’s total net worth is now in the south of $900 billion. SpaceX’s own valuation has come down from a peak of $2.9 trillion to sub $1.6 trillion levels.
 
Concerns regarding the recent stock market turmoil include high interest rates, skepticism about an “AI bubble,” heavy capital expenditures, and big question marks about whether the current “inflated” levels are even justified in the face of a faltering macroeconomy.
Bitcoin Remains Steady
While Bitcoin has had a tough 2026 overall, the premier cryptocurrency did outperform SPCX over the last month or so, largely trading within a narrow $60k-$65k range.
Here is the BTC/USD graph from the last 30 days:
However, not everything was smooth for it. The cryptocurrency survived a scare from the bears earlier in the month when it dropped below the crucial $60k support level, but the bulls immediately propped it back up. If the bears had successfully breached the key support level, the index could have easily dropped to $50k or even further below.
The Future
Elon Musk is now completely focused on SpaceX, the future of satellite communications through Starlink, and deep space exploration. This is why he has stepped back from Tesla and his other ventures to focus solely on this front.
However, even though the company has performed admirably in deploying the required infrastructure in space, it has yet to generate profits to justify its valuation.
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