Elon Musk loses trillionaire status as SpaceX stock slides for fifth consecutive day
By
Matt Binder
Summary
The article reports that Elon Musk has lost his trillionaire status less than two weeks after SpaceX's IPO, as the company's stock has declined for five consecutive trading days. SpaceX went public on June 12 with a record-breaking IPO, and Musk briefly became the world's first trillionaire when the stock surged from $135 to over $170 per share, eventually hitting a high of $225 on June 16. However, the stock has since been sliding, dropping Musk's net worth back to billionaire levels.
Source
bskyElon Musk loses trillionaire status as SpaceX stock slides for fifth consecutive daymashable.comKey quotes
· 3 pulledWhen SpaceX went public on June 12 with the biggest IPO in history, Elon Musk immediately cemented himself as the first ever trillionaire.
Now, less than two weeks later, Musk has already lost that trillionaire status — as SpaceX stock tumbles for the fifth consecutive trading day.
On SpaceX's IPO day, the stock immediately rocketed from the $135 initial public offering price to more than $170 per share.
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