Elon Musk has suffered the largest one-week decline in personal wealth ever recorded, losing approximately KSh 45.3 trillion ($350 billion) after SpaceX shares fell sharply from their post-IPO peak.

Musk’s net worth dropped from about KSh 187.8 trillion ($1.45 trillion) to just under KSh 142 trillion ($1.1 trillion), according to Forbes. The decline represents nearly 30% of his wealth from its peak on June 16, 2026. Despite the loss, Musk remains a trillionaire.

SpaceX IPO Sends Musk’s Wealth Soaring

SpaceX went public on June 12, 2026, at an IPO price of KSh 17,483 ($135) per share. During the following three trading sessions, the stock climbed as much as 67%, lifting SpaceX’s market value to approximately KSh 233.1 trillion ($1.8 trillion).

The surge pushed Musk’s net worth above KSh 129.5 trillion ($1 trillion), making him the first person to reach that milestone. His fortune had been estimated at around KSh 91.6 trillion ($707 billion) just two days before the IPO.

At its peak, SpaceX reached a valuation of roughly KSh 375.6 trillion ($2.9 trillion). However, the stock subsequently declined for three consecutive sessions, wiping out about KSh 120.2 trillion ($928 billion) in market value and reducing the company’s valuation to approximately KSh 259 trillion ($2 trillion).

By Monday, SpaceX shares had closed at $154, remaining above their IPO price but well below their post-listing high.

Why Did SpaceX Shares Fall?

The steepest one-day decline came after SpaceX announced plans for an investment-grade bond offering worth KSh 2.59 trillion ($20 billion). The company intends to use the funds to support its artificial intelligence expansion.

The announcement raised concerns among investors about SpaceX taking on additional debt, contributing to the sharp sell-off in its shares.

The dramatic reversal highlights the volatility that can accompany newly listed technology companies, particularly those that reach exceptionally high valuations soon after going public.

Musk Remains a Trillionaire Despite Record Loss

Musk’s rise to trillionaire status attracted worldwide attention and highlighted the extraordinary concentration of wealth among technology entrepreneurs.

Although his fortune has fallen sharply from its June peak, Musk remains above the KSh 129.5 trillion ($1 trillion) threshold. The SpaceX sell-off has nevertheless renewed debate over the sustainability of extremely high valuations and the risks investors face when newly public technology companies experience rapid price swings.