StocksMediumUpdated×8•Originally published 5 November 2026•Updated 6 November 2026•
1 min read
Elon Musk’s Wealth Drops Below $800 Billion as Tesla Shares Slide 11.5%
Key Facts
1Tesla and SpaceX shares fell by 9% following midterm election results in Texas.
2Rocket Lab and AST SpaceMobile shares tumbled 13% amid concerns over regulatory threats to data center plans.
Elon Musk's net worth fell below the $800 billion mark as Tesla shares plummeted 11.5% on Thursday, November 5, 2026. The decline followed the results of the US midterm elections, bringing Musk's total wealth erosion to approximately $80 billion.
SpaceX shares also dropped 8% alongside the Tesla slide, intensifying the pressure on Musk's investment portfolio. Tesla had closed at $385.19 and SpaceX at $135.92 on November 4, 2026, before the election outcomes triggered a broader sell-off that affected peers like RKLB and ASTS, which closed at $52.37 and $35.62 respectively on the same date.