Elon Musk's wealth dropped below $900 billion amid SpaceX stock price decline

Elon Musk's wealth has fallen below $900 billion as SpaceX stock prices declined. On Monday, SpaceX shares dropped 3.8% to $140, approaching the $135 IPO price from last month, while Tesla stock declined approximately 3%. According to Forbes, Musk's net worth stands at $880 billion after losing $37.9 billion, yet he remains the world's richest person, significantly ahead of Google co-founders Larry Page ($288 billion) and Sergey Brin ($266 billion).

This represents a notable retreat from Musk's peak wealth of $1.45 trillion reached on June 16, when SpaceX stock hit $225. Since then, the stock has fallen over 38% during seven trading sessions. Despite the downturn, Wall Street maintains optimism about SpaceX. Raymond James issued a $800 target price implying a valuation exceeding $10 trillion, while analyst targets range from $205 to $401 per share.