Elon Musk’s fortune has dropped below $700 billion after another decline in SpaceX shares, according to the report. The latest move reportedly wiped more than $20 billion from his net worth on Monday and pushed his total wealth under that mark for the first time since December.
The setback adds to a broader recent slide tied to SpaceX, which has become a major driver of Musk’s overall wealth. As that pressure continued, the report said the SpaceX rout further reduced the value of his holdings and extended the pullback in his fortune.
Musk had recently acknowledged that his wealth had fallen, referring to himself as a "former" trillionaire. That remark has drawn fresh attention as the latest decline highlights how sharply his paper wealth can move when valuations of his biggest companies change.
While Musk remains one of the world’s richest people, the new drop shows how much his net worth is still linked to market swings around SpaceX and Tesla. The latest decline underscores that even at the very top of the wealth rankings, large daily moves can quickly reshape the numbers.
