2 sourcesUpdated
Musk's wealth drops billions amid SpaceX shares plunge
Elon Musk lost billions of dollars as SpaceX shares fell sharply, dropping his net worth by around $350 billion to approximately $957 billion. A 16.4% drop in SpaceX stock and a sustainability rating downgrade contributed to the decline.
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Summary
X extended into a third consecutive day, wiping out all gains made since its record-setting market debut. Investor confidence was further shaken following an all-stock acquisition of artificial intelligence coding startup Cursor for USD 60 billion, a move heavily criticised by market researchers at Morningstar as a sizeable dilution of shares.
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