Musk’s fortune decline reached greater than $48.5 billion on Friday, after Elon Musk’s internet value slid to $865 billion, in response to Bloomberg information. The hit got here from a SpaceX inventory drop to $134.72, about 40% beneath the post-IPO excessive, as AI bubble fears unfold throughout a broad US selloff. Anyone checking SpaceX inventory at the moment will discover it at its lowest degree since August, simply weeks after Musk acquired again his trillionaire standing.
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SpaceX Stock Decline Raises AI Bubble Fears as Musk’s Wealth Falls
SpaceX listed on Nasdaq below the ticker SPCX on June 12, 2026, at $135 a share, and it hit a file of $225.64 4 days later. Last month the shares climbed again to $176.56, after which the slide began once more. That quick spherical journey explains why Musk’s fortune decline feels so sharp.
Source: Yahoo Finance
Right now, a fast have a look at SpaceX inventory at the moment exhibits shares slightly below the IPO value. The inventory misplaced $9.17, or 6.37%, on Friday alone, and it’s down 9.73% over the previous month. Musk’s fortune decline mirrors that chart, since most of his wealth sits in SpaceX.
The $40 Billion Lease That Spooked The Market
On Oct. 26, SpaceX disclosed an roughly $40 billion lease with an entity that Apollo Global Management runs. That entity will purchase Nvidia’s next-generation Vera Rubin chips and lease them again to SpaceX over roughly 5 years, beginning in 2027. Musk’s fortune decline picked up pace within the days after the deal.
Chief Financial Officer Bret Johnsen acknowledged:
“This lease diversifies our funding sources and addresses a notable portion of the funding required to deliver on our growth plans.”
He additionally guided fourth-quarter capital spending to $35 billion to $40 billion, up from $19.6 billion within the third quarter.
AI Revenue Beats Starlink, But The Bill Keeps Growing
The Oct. 20 outcomes regarded sturdy on paper. Total income rose 161% to $14.58 billion, and AI income reached $7.56 billion, forward of Starlink’s $5.24 billion. The AI unit additionally spent $16.4 billion, greater than the area and connectivity segments mixed, and that invoice is an enormous motive behind Musk’s fortune decline.
Musk himself has warned about smaller cloud gamers. He had this to say on X:
“As of the past few weeks, debt markets have almost entirely shut off access to money for any company that doesn’t have substantial revenue independent of AI data centers.”
He added:
“That means the 200+ neoclouds are going to see guppy-level death and consolidation. Some will make it through, but not many.”
Peers CoreWeave, Nebius and IREN have every misplaced greater than half their worth from file highs, and that sector ache feeds each AI bubble fears and Musk’s fortune decline.
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Tesla Merger Talk Softens Musk’s Fortune Decline
Tesla gave Musk some reduction, ending the week at $400 after he confirmed he’s weighing a merger of the 2 corporations. Dan Ives of Yorkville Ives places the percentages of a deal by the top of 2027 at 80% to 90%. Musk owns about 49% of SpaceX, so each SpaceX inventory drop hits Elon Musk’s internet value far more durable than his roughly 12% Tesla stake can offset.
For now, Musk’s fortune decline depends upon whether or not the AI commerce finds a ground. Another SpaceX inventory drop would pull Elon Musk’s internet value decrease once more, and AI bubble fears will probably determine whether or not SpaceX inventory at the moment marks a backside as soon as the $35 billion to $40 billion spending plan begins to point out outcomes.
