Elon Musk's Net Worth Is Plummeting -- Here's What That Means for SpaceX Stock
He is no longer a trillionaire.
Overview
The initial public offering of Space Exploration Technologies (NASDAQ: SPCX) was a huge success for Elon Musk. As the stock (SpaceX for short) soared in the days after it went public, Musk officially became the world's first trillionaire.
A sharp correction in the stock price, however, has brought his net worth down closer to earth. His estimated net worth is now under $900 billion. Most of Musk's fortune is tied up in publicly traded companies like Tesla and SpaceX. So his exact net worth changes dramatically with every market session.
Details
How much impact does Musk's net worth have on SpaceX's business? More than you might think.
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.