'The Cult of Elon': SpaceX Investors Grapple with Volatility Amid Big Swings
Retail investors drove a $405 million first-week buying spree, but the stock’s slide erased Musk’s trillionaire status as analysts questioned its valuation.
- On June 12, 2026, SpaceX CEO Elon Musk became the world's first trillionaire following the company's record-breaking initial public offering, briefly reaching a net worth exceeding $1 trillion.
- Shares in Tesla and SpaceX retreated after a broad tech sell-off, reversing the stock's initial surge of more than 60% following market jitters that triggered a 16% slump.
- Market experts attributed the price crash to KeyBanc's "sector weight" rating and the company's inaugural bond offering, while investor Michael Burry questioned SpaceX's nearly $3 trillion market value.
- Nabil Ahmed, Oxfam's senior economic justice policy lead, stated Musk's wealth is "incompatible" with a healthy democracy, noting it exceeds the combined holdings of roughly 3.8 billion people.
- Musk's brief trillionaire status signals a growing conversation about regulating extreme resource concentration, with analysts viewing the episode as a warning about wealth compounding faster than institutions can manage.
16 Articles
16 Articles
Michael Burry Says He Is Tempted to Bet Against SpaceX, Rejects $2T Valuation Outright
SpaceX IPO minted the first trillionaire in the world, Elon Musk. However, Musk lost the title in a few days after his net worth nosedived to $943 billion on Friday, compared with $1.3 trillion when the SpaceX stock went public on Nasdaq. The stock has crashed by over 20% over the past five days, but still maintains a market cap of over $2 trillion. Market experts attributed the stock price crash to the rocket company's inaugural bond offering a…
Elon Musk lost the title of billionaire after the fall of Tesla and SpaceX on the stock exchange. With this, the businessman’s fortune was located at only $957 million. Tesla’s fall and SpaceX makes Elon Musk lose the title of billionaire Elon Musk lost the title of the first billionaire he held. Twelve days ago, the fortune of the tycoon was valued at $1.11 billion. The fall of the shares of SpaceX and Tesla, in addition to the correction in te…
Mark Cuban Says The Real Issue Isn’t Elon Musk Becoming A Trillionaire While Others Can’t Pay Bills
SpaceX CEO Elon Musk became the world’s first trillionaire when SpaceX went public last week. However, Cost Plus Drugs co-founder and billionaire entrepreneur Mark Cuban said before Musk reached the milestone that’s not
Why the World’s Richest Man Elon Musk isn’t a Trillionaire anymore
History is often remembered through milestones that appear almost impossible until someone finally reaches them. Financial records are broken, industries are transformed, and fortunes rise to levels that once existed only in imagination. Every so often, a moment arrives that reshapes conversations about wealth, business, and the extraordinary pace at which modern markets can create value. June 2026 delivered one of those moments when Elon Musk b…
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