Elon Musk's net worth fell by $500 billion in a single month as SpaceX and Tesla shares declined.
Elon Musk experienced the most significant monthly financial decline in history, with his net worth dropping from $1.32 trillion to $832 billion. The 37% decrease was primarily driven by a 41% to 45% drop in SpaceX shares following an aborted Starship launch. Additionally, Tesla reported second-quarter revenue of $28.24 billion but missed earnings expectations by 38.51%, resulting in a 30.39% year-to-date stock decline. Despite these losses, Elon Musk is seeking to raise $4 billion in new funding for The Boring Company at a valuation of $20 billion. While the venture has only built 2.4 miles of operating tunnel, the proposed deal serves as a test of whether Musk's brand can sustain a high valuation despite a relatively thin operating track record. Tesla CFO Vaibhav Taneja noted that capital expenditures are expected to increase further in the second half of 2026, with Musk describing the industrial scale-up as one of the fastest in America since World War II.