Elon Musk’s Net Worth Drops by Nearly $130 Billion in a Week, Yet He Still Tops the World’s Rich List Here’s Why Investors Aren’t Looking Away

Elon Musk, the billionaire entrepreneur behind Tesla, SpaceX, and xAI, has experienced one of the biggest weekly declines in personal wealth this year. Despite losing nearly $130 billion in just seven days, Musk continues to hold the title of the world’s richest person, according to the latest global billionaire rankings.

As of July 24, 2026, Musk’s estimated net worth stands at $725.1 billion, keeping him comfortably ahead of every other billionaire. The dramatic decline comes after heavy selling pressure on shares of both Tesla and SpaceX, the two companies that account for the majority of his fortune.

Tesla Shares Trigger Biggest Blow to Musk’s Fortune

The biggest setback came from Tesla, whose stock recorded its worst weekly performance in several years. Shares of the electric vehicle manufacturer plunged 18% after the company released disappointing second-quarter financial results.

Although Tesla reported $28.2 billion in revenue, its adjusted earnings came in significantly below market expectations. The company posted earnings of 33 cents per share, falling short of analysts’ forecasts of 50 cents per share.

Adding to investor concerns, Tesla reported negative free cash flow for the first time in two years. The company continues to invest aggressively in long-term projects, including its robotaxi platform, the Optimus humanoid robot, and large-scale AI chip manufacturing facilities.

Following the earnings announcement, Tesla’s stock suffered an additional 14.1% single-day decline, resulting in billions being wiped from Musk’s personal fortune.

During the earnings call, Chief Financial Officer Vaibhav Taneja confirmed that Tesla still plans to invest around $25 billion this year. Meanwhile, CEO Elon Musk described 2026 as a “massive capital expenditure year,” signaling continued heavy investments despite short-term financial pressure.

SpaceX Also Faces Investor Pressure

The pressure extended beyond Tesla.

After its highly anticipated public market debut earlier this year, SpaceX has also witnessed a notable correction. The company’s shares have slipped below their initial listing price and are trading significantly lower than their recent highs.

Market sentiment weakened following repeated delays in Starship test flights, raising concerns about the company’s near-term growth timeline.

Earlier this year, SpaceX’s successful listing briefly pushed Musk’s wealth above the $1 trillion mark, making him the first person to achieve that milestone. However, the recent correction has erased a substantial portion of those gains.

Reflecting on the sharp decline, Musk humorously referred to himself as a “former trillionaire” in a post shared on X, acknowledging the dramatic shift in his fortune.

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Investors Focus on Upcoming Milestones

Despite recent market volatility, analysts believe the coming weeks could prove crucial for SpaceX.

Investors are closely monitoring two major developments:

• The next Starship test flight, which is expected to demonstrate progress in the company’s ambitious space program.
• SpaceX’s upcoming earnings report on August 4, which could significantly influence investor confidence and the company’s stock performance.

Positive developments in either event could help restore momentum to SpaceX’s valuation.

What Makes Up Elon Musk’s Wealth?

At 55 years old, Elon Musk remains one of the world’s most influential business leaders. Based in Austin, Texas, he is the co-founder of several high-profile companies, including Tesla, SpaceX, xAI, Neuralink, and The Boring Company.

Musk reportedly owns approximately 38% of SpaceX, including stock options, along with nearly 11% of Tesla. He also holds significant stakes in his other technology ventures, making his wealth heavily dependent on the long-term performance of these companies.

Still Far Ahead Despite the Losses

While a weekly decline of nearly $130 billion would dramatically affect almost any investor, Musk’s diversified holdings and substantial ownership in multiple technology companies continue to keep him well ahead in the global wealth rankings.

With Tesla continuing its aggressive investment strategy and SpaceX preparing for important operational milestones, investors will be watching closely to see whether Musk’s companies can regain momentum in the weeks ahead.

For now, despite one of the largest wealth declines ever recorded over such a short period, Elon Musk remains firmly at the top of the world’s richest individuals list.