Overview
- Tesla’s second‑quarter results reported after markets closed on July 22–23 showed revenue growth but an adjusted EPS of $0.33 and negative free cash flow, triggering an abrupt selloff and heavy one‑day losses for the stock.
- SpaceX’s post‑IPO trading has tumbled from its mid‑June peak, with repeated Starship delays pushing the share price below the IPO level by late July and erasing a large portion of the company’s market value.
- Forbes valued Musk’s net worth at about $725.1 billion on July 24, while the Bloomberg tracker put it near $738 billion on July 23, reflecting roughly $130 billion lost over one week and $650–700 billion since the June IPO peak.
- Most of Musk’s paper wealth sits in roughly 38% of SpaceX (including options) and about 11% of Tesla, so small share‑price moves produce large swings in his reported net worth.
- Investors are watching two near‑term catalysts that could change sentiment: SpaceX’s first public earnings report on August 4 and the next Starship test flight, and the current figures represent paper value rather than liquid assets.