Tesla, SpaceX Selloff Cuts Elon Musk's Paper Wealth by Up to $700 Billion - Yahoo Finance

What the report says

Yahoo Finance, citing a GuruFocus article by Faizan Farooque published July 24, 2026, reported that steep recent declines in Tesla and publicly traded SpaceX have wiped an estimated $650 billion to $700 billion from Elon Musk’s paper wealth over about five weeks. The reported drop reflects changes in the market value of Musk’s holdings rather than realized cash losses.

According to the report, SpaceX shares were trading around $113 on Friday, below the company’s $135 initial public offering price and about half of their June 16 high of $225.64. The fall reduced the market value of Musk’s 42% economic interest in SpaceX, while the company’s dual-class stock structure still gives him about 82% voting control, the article said.

Tesla’s latest quarterly results added pressure. The company reported second-quarter adjusted earnings of $0.33 a share, short of the $0.50 consensus estimate cited in the article. Operating income was down 56.9% year over year to $398 million, and free cash flow turned negative as capital spending increased. Tesla’s stock dropped 14.5% after the report, which GuruFocus estimated reduced Musk’s wealth by $18.6 billion in one trading session.

The article also noted that short sellers betting against SpaceX had built roughly $15.5 billion in paper gains as bearish positions grew. Investors are now watching several upcoming catalysts, including SpaceX’s first public earnings report, the end of insider lockup restrictions and the next Starship test flight.