Share Source: Business Insider
The dramatic decline in SpaceX and Tesla shares has led to the American businessman Elon Musk once again becoming a billionaire after several weeks of being a trillionaire – incidentally, the first in the history of mankind.
Main points:
- The shares of many technology companies are currently in turmoil.
- Investors are concerned about artificial intelligence “bubbles” and rising interest rates.
Elon Musk is once again among the billionaires
According to Business Insider data, the businessman’s fortune has sharply decreased and fallen below the one trillion dollar mark.
Analysts have calculated that as of today, Musk has assets totaling approximately $957 billion at his disposal.
Importantly, the tycoon became a trillionaire in early June when SpaceX’s initial public offering valued the space company at over $2 trillion.
For several consecutive days, quotations moved upwards – this sparked immense interest from retail investors in Elon Musk’s new ideas and promises.
Despite this, SpaceX shares recently began to plummet. Thus, on June 23, they were worth about $156 per share.
It is worth noting that this is almost a third lower than the daily high of $225 recorded on June 16.
One of the reasons for the drop in share value is considered to be warnings from analysts and experts.
The latter are not very convinced of the feasibility of Musk’s ambitious plans – from creating data centers in space to colonizing Mars. All of this is questionable.