Elon Musk's net worth has fallen below the $800 billion mark again. According to Forbes, after the cancellation of the latest Starship test launch, SpaceX shares declined, and the entrepreneur's net asset value dropped by more than $45 billion.

The publication reports that SpaceX shares fell by 4.4% to $125 per share. Against this backdrop, Musk's wealth decreased to $792.8 billion. Despite this, he remains the richest person in the world.

The decline continued a five-day negative trend, resulting in a 14.5% reduction in SpaceX's market value. Musk, who owns 4.8 billion shares and 350 million options in the company, directly felt the impact of the falling stock price.

The sell-off intensified after Musk announced the cancellation of the 13th Starship test launch. According to him, the automatic system aborted the pre-launch procedure because several engines of the rocket booster failed to ignite during the ignition phase. In a post on social media platform X on July 16, he stated that the next launch attempt is planned for early next week.

Musk's wealth peaked on June 16, when Forbes estimated his capital at $1.45 trillion. Since then, his fortune has shrunk by nearly $700 billion.

Source: podrobno.uz