Elon Musk's net worth has dropped below the $700 billion mark for the first time since December after another decline in SpaceX shares, even as the billionaire continues to retain his position as the world's richest person.
According to Forbes, Musk's estimated fortune fell to about $695.7 billion after SpaceX shares declined 4.8 per cent to around $109.50 by 10:50 AM EDT on Monday. The latest slide has taken the company's stock nearly 50 per cent lower from its record high of $225.64 reached on June 16.
Musk, who owns roughly 4.8 billion SpaceX shares along with around 350 million stock options, saw approximately $29.5 billion erased from his personal wealth following the latest fall in the company's valuation.
The billionaire had hinted at the decline in his fortune last week, posting "(Former) trillionaire" on social media platform X.
Despite the sharp correction, Musk remains comfortably ahead of other billionaires. Forbes estimates Google co-founder Larry Page's wealth at $268.5 billion, while fellow co-founder Sergey Brin has a net worth of around $247.1 billion.
SpaceX Shares Under Pressure Despite Successful Starship Test
The decline in SpaceX's share price came even after the company successfully carried out a Starship test launch on Friday.
Ahead of the mission, JPMorgan analyst Seth Seifman said investors were likely to closely evaluate the outcome of the latest test flight., reported Bloomberg. In a research note, he said SpaceX should expect a combination of "progress and setbacks" as it continues an extensive launch schedule through 2027.
Investor sentiment had already weakened following the aborted Starship launch on July 16, an event that reportedly wiped more than $45 billion from Musk's fortune and pushed his wealth below $800 billion.
Analysts Watch The $100 Share Price Level
Market participants are now monitoring whether SpaceX shares could fall below $100.
According to Morgan Stanley analysts, a sustained decline below that level would imply that investors are assigning little or no value to SpaceX's artificial intelligence business.
Since reaching a peak net worth of $1.45 trillion on June 16, Musk's wealth has declined by around $750 billion, according to Forbes.
The publication also noted that around $116 billion of that reduction resulted from a revision in its wealth calculations after Tesla stock options were removed following new vesting arrangements agreed between Musk and the electric vehicle maker.
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From Trillionaire Status To A Sharp Correction
Musk crossed several wealth milestones during 2025, first surpassing $600 billion, then $700 billion in December, before exceeding $800 billion in February.
His fortune briefly climbed to $1.45 trillion after SpaceX's Nasdaq debut on June 12, making him the world's first trillionaire. The company's stock rallied strongly following the listing and touched an all-time high just four days later.
However, SpaceX shares have since surrendered roughly half of those gains.
Even with the recent decline, some analysts continue to maintain a positive long-term view of the company's prospects.
Bitcoin Holdings Draw Investor Attention
Apart from its aerospace business, SpaceX has also attracted attention for its cryptocurrency exposure.
A company filing showed that SpaceX holds 18,712 Bitcoin on its balance sheet. With Bitcoin trading at around $64,151.11, the holding is valued at roughly $1.2 billion.
The decline in SpaceX's valuation has also affected crypto-linked contracts tracking the company's stock on Hyperliquid. According to market data, the contract has fallen by about 50 per cent from its June 16 peak of $228.74 to around $114.50, while recording $227 million in trading volume and $164 million in open interest over the past 24 hours.
Although Musk's wealth has fallen sharply from its June peak, Forbes data continues to rank him as the world's richest individual.