Summary

On July 24, Musk posted “(Former) Trillionaire” on X, a rare public acknowledgment from a man who rarely concedes ground. The post came as his fortune kept sliding. He’d first dropped below $1 trillion on July 1, and the losses continued from there. This week alone, SpaceX shares fell another 4.8% on Monday to around $109.50, extending a 50% plunge since the stock’s June 16 high and pushing Musk’s net worth below $700 billion for the first time since December.

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