Elon Musk No Longer a Trillionaire as SpaceX Stock Falls

Elon Musk became the first trillionaire when SpaceX went public on June 12.

Now, less than two weeks later, Musk is no longer a trillionaire as SpaceX stock falls for the fifth day in a row.

On the first day of trading, SpaceX stock rose from $135 to over $170 per share. It reached a high of $225 per share on June 16.

On June 16, SpaceX bought the AI coding agent Cursor for $60 billion, and then its stock started to fall.

On Monday, SpaceX stock fell 16 percent and has not recovered yet. On Tuesday, Musk became a billionaire again, and the stock fell to $152 before rising to $154.

At its highest point, Musk's net worth was around $1.1 trillion. Now, it is $957 billion, according to Forbes.

SpaceX is not making a profit, partly because it bought Musk's AI company, xAI. The company's value is based on Musk's plans for its future.

This means the stock price can change a lot from day to day. Musk's net worth may go up and down between billionaire and trillionaire for a while.

SpaceX and Elon Musk are in the news.

COPYRIGHT DISCLAIMERS

4English does not own the rights to this content. All rights belong to the owner. 4English only uses this content to help users learn English via the app's features. Contact to request the removal of your content: contact@4englishapp.com.

Практика аудирования