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SpaceX’s stock price continues to fall, and Elon Musk’s net worth drops below $900 billion
Despite the shrinking fortune, Musk remains the world’s richest person, ahead of Google co-founder Larry Page ($290.1 billion) and Sergey Brin ($267.6 billion). Musk holds 4.8 billion shares of SpaceX and 350 million stock options, and also owns about 700 million shares of Tesla.
Musk’s net worth peak was $1.45 trillion, occurring on June 16 when SpaceX shares hit an all-time high above $225. Since then, the stock has cumulatively fallen by more than 38%.
Despite weak share performance, Wall Street analysts are generally bullish on SpaceX. Raymond James set a $800 price target, implying a market value of more than $1 trillion. According to FactSet data, analysts’ average price target is $236, including $401 from Arete Research and $300 from Morgan Stanley, with $205 from Goldman Sachs. Raymond James analyst Brian Gesuale believes that SpaceX is building a “foundational platform for the next generation of industrial capacity.”