Trillionaire No More. SpaceX Collapse Loses Elon Musk $600 Billion in One Month - 24/7 Wall St.

What the report says

24/7 Wall St. reported that SpaceX’s newly public shares have reversed sharply within weeks of the company’s IPO, turning what the outlet described as a blockbuster debut into a cautionary episode for investors chasing high-profile technology offerings. The article, published July 25 by Rich Duprey, said SpaceX priced its IPO at $135 a share, opened at $150, climbed as high as $225, and later traded near $113 — below the offering price and about half its post-debut peak.

The report tied the stock swing to a large paper change in Elon Musk’s wealth. Citing Bloomberg’s Billionaires Index, 24/7 Wall St. said Musk’s estimated net worth rose from roughly $630 billion at the start of the year to more than $1.3 trillion during the IPO surge, before falling to about $718.8 billion as SpaceX shares declined. The article said Musk posted “(Former) Trillionaire” on X, while noting that such wealth estimates mostly reflect fluctuating equity stakes rather than cash holdings.

The outlet said the next test for SpaceX shares could come when insider lockup restrictions begin expiring next month, potentially allowing early investors and employees to sell. It framed the episode as part of a broader pattern in which heavily anticipated IPOs can soar on scarcity and enthusiasm, then fall once investors reassess valuations.

More broadly, 24/7 Wall St. presented the decline as a warning ahead of expected IPOs from artificial-intelligence companies including Anthropic and OpenAI. The article’s central takeaway was that investors may benefit from patience after marquee listings, because early trading can be driven more by hype than by fundamentals.