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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
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Sign InAmid intensifying selling pressure on mega-cap tech stocks, Elon Musk's net worth has plunged by $407 billion over the last few weeks. This significant decline is primarily driven by SpaceX stock diving to a record low for the current year. The move reflects growing investor concerns regarding the valuations of major private entities as the broader market grapples with volatility and shifting sector dynamics.
These losses occur as the technology sector faces headwinds from monetary policy uncertainty, with Musk's paper wealth declining in tandem with other tech titans like Jeff Bezos and Mark Zuckerberg, per Bloomberg Billionaires Index data. Looking at peer performance, Tesla (TSLA) shares have also experienced volatility, further compounding the pressure on Musk’s total investment portfolio which remains heavily tied to the valuations of his flagship ventures.
Per market data, SPCX stood at $145.3 at close on July 10, 2026, having touched a day low of $145.07. Traders are currently monitoring psychological support levels near $140 if the bearish momentum persists. Looking ahead, market participants are eyeing the Fed Bowman speech scheduled for July 7, 2026, which may offer further clues on interest rate trajectories and their impact on high-growth company valuations.