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International Business Times
International Business Times
Business

Elon Musk's Companies Have Lost $1.5 Trillion In Value. SpaceX's Biggest Test Yet Starts Next Week

SpaceX Elon Musk Tesla Inc. CNBC
Since reaching recent highs in mid-June, SpaceX shares have tumbled nearly 50%, while Tesla has fallen about 18% following last week's earnings report. (Credit: Getty Images)

Elon Musk's business empire is facing another volatile bout after a sharp selloff wiped a combined $1.5 trillion in market value from SpaceX and Tesla, with investors now bracing for a potentially pivotal moment as SpaceX prepares to report earnings and lift restrictions on insider stock sales next week.

Since reaching recent highs in mid-June, SpaceX shares have tumbled nearly 50%, while Tesla has fallen about 18% following last week's earnings report. The combined losses have erased roughly $1.5 trillion in market capitalization.

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