Elon Musk Loses R11.73 Trillion in 6 Weeks After SpaceX Shares Drop
- Elon Musk's net worth fell below $700 billion for the first time since December after another sharp drop in SpaceX shares
- The Tesla and SpaceX founder lost around $750 billion after reaching a peak of R21.4 trillion ($1.45 trillion) in June
- Social media users could not help but joke about the staggering loss, with many pointing out he is still the richest person on earth
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Source: Getty Images
Elon Musk has shed roughly R11.73 trillion from his net worth in the space of six weeks. The loss came after another sharp decline in SpaceX shares, pushing his fortune below $700 billion for the first time since December.
At his peak in June, Musk's net worth sat at $1.45 trillion, briefly making him the world's first trillionaire. That title has now slipped away. Despite the dramatic fall, he remains the wealthiest person on the planet by a considerable margin.
From trillionaire to 'merely' a billionaire
According to the @dailymail news page, the $750 billion wipeout is a figure most people cannot begin to comprehend. A large portion of Musk's wealth is tied up in stock rather than cash, meaning the swings in his fortune are tied directly to the performance of his companies.
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What made the story hit differently online was the sheer scale of the loss sitting alongside the fact that he still holds the number one spot on the global rich list.
Check out the TikTok post below:
Mzansi and the world react
The news sent social media into a frenzy, with users delivering some of the most pointed commentary the internet has seen in a while:
Dylan said:
"Elon Musk is the only person who became a billionaire by losing money. đ"
Antonjooo commented:
"That's like $750 to him."
Beni wrote:
"I'm more financially stable than him."
Tommy shared:
"I never lost 750 billion btw."
Kai added:
"First person to become a billionaire by losing money."
Liam said:
"Genuinely heartbreaking.. going to donate to him after work. đ"
Glowupgranny commented:
"That's the equivalent of someone going into my purse and taking all the loose change that didn't make it to my wallet. I would not even notice."
Caleb Brown said:
"Just think about this⌠he has lost 750 BILLION dollars and is STILL the richest person in the world. đ¤Żđ"
3 Other Briefly News stories about Elon Musk
- Lee Martin, a 48-year-old Vancouver police sergeant diagnosed with ALS, became the first Canadian to receive a Neuralink brain implant.
- Controversial businessman Elon Musk sparked a debate on social media on Friday, 3 April 2026, after he slammed the BEE Act.
- SpaceX has elected long-time Sequoia Capital investor Roelof Botha to its board as an independent director and audit committee member.
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Source: Briefly News
