Elon Musk loses nearly $130 billion as Tesla, SpaceX slump

Elon Musk's net worth fell to $725.1 billion as of July 24, 2026, after losing nearly $130 billion in one week.

Tesla shares dropped 18% for the week, their worst weekly performance since 2022, after Q2 earnings missed estimates (33 cents per share vs. 50 cents expected).

SpaceX shares fell below their IPO price to about $115, down over 43% from peak, amid delays to Starship test flights.

Musk lost $18.6 billion in a single day after Tesla's 14.1% plunge post-earnings, as negative free cash flow and $25 billion capex plan worried investors.

Musk briefly held trillionaire status after SpaceX's June listing but lost it as both stocks declined.