Musk’s net worth drops about $150 billion as SpaceX shares sink 16%

Elon Musk’s net worth fell by roughly $150 billion in a single session after SpaceX shares slid 16%. The drop was part of a three-day decline that wiped out hundreds of billions in market value following the company’s record IPO. SpaceX closed at $154.60 after the move, the lowest level referenced in the summary.