Key Points
Elon Musk briefly achieved trillionaire status in 2024 when SpaceX (NASDAQ: SPCX) stock hit $200 per share. However, following a 26% decline from its highs, Musk’s net worth has fallen to $987 billion, just under the trillion mark.
As of July 2024, Musk holds 15.7% of Tesla (NASDAQ: TSLA), valued at approximately $282.4 billion, and about 46% of SpaceX, worth around $704.5 billion. Tesla is currently worth $1.48 trillion, while SpaceX is valued at $1.94 trillion. Both companies have faced stock declines this year, with Tesla down 12.4% and SpaceX trading below its opening price.
Musk wields significant control over SpaceX with 82.3% voting rights, raising concerns among shareholders about decision-making transparency. While both stocks have been seen as risky investments lately, analysts suggest caution, indicating they are not currently attractive buys at their diminished prices.
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