Trillionaire No More. SpaceX Collapse Loses Elon Musk $600 Billion in One Month

The article argues that SpaceX’s blockbuster IPO has rapidly deflated after a euphoric debut, with shares falling from a $225 post-IPO peak to around $113, below the $135 offering price. The collapse erased a massive amount of paper wealth from Elon Musk, who briefly topped $1.3 trillion in estimated net worth before dropping to about $718.8 billion, a decline of roughly $600 billion in a month. The piece frames this as a cautionary example of how IPO excitement can outrun fundamentals, especially ahead of anticipated public offerings from Anthropic and OpenAI. It also warns that insider lockup expirations next month could add more selling pressure. Overall, the market takeaway is that investors should avoid chasing headline-driven IPO momentum and wait for valuations to normalize.