Elon Musk’s net worth drops more than $300B

Elon Musk

Billionaire Elon Musk's fortune has plummeted as the SpaceX stock continues its sell-off, wiping out all the gains the company had made since its initial public offering.

 

The selling pressure, which wiped out nearly $152 billion from Musk's net worth on Monday alone, has pushed Forbes' estimate of his net worth down from an all-time high of $1.45 trillion to just under $1.1 trillion, though he still retains his "trillionaire" status.

 

This comes after SpaceX shares suffered losses for the third consecutive session, shedding more than 31% of their value since reaching a peak of $225.64 on June 16.

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