SpaceX Stock Price Continues to Slide, Musk's Net Worth Falls Below $900 Billion

BlockBeats News, July 14th - Influenced by the continuous decline in SpaceX's stock price, Musk's net worth fell below $90 billion on Monday. SpaceX's stock price dropped 3.8% on Monday to nearly $140, close to its $135 IPO price; Tesla's stock price also fell by 3% during the same period. This round of correction caused Musk's net worth to plunge by $37.9 billion, with his latest net worth at $87.93 billion.

Despite the wealth shrinkage, Musk remains the world's richest person, surpassing Google co-founder Larry Page ($290.1 billion) and Sergey Brin ($267.6 billion). Musk holds 4.8 billion shares of SpaceX and 350 million stock options, as well as approximately 700 million shares of Tesla.

Musk's peak net worth was $1.45 trillion, reached on June 16th when SpaceX's stock price hit a historical high above $225. Since then, the stock has fallen by more than 38%.

Despite the weak stock performance, Wall Street analysts are generally bullish on SpaceX. Raymond James has set a target price of $800, implying a market value of over $10 trillion. According to FactSet data, the average analyst target price is $236, with Arete Research at $401, Morgan Stanley at $300, and Goldman Sachs at $205. Raymond James analyst Brian Gesuale believes that SpaceX is "building the foundational platform for the industrial capacity of the next generation."