Elon Musk's fortune has shrunk by an estimated $350 billion in less than a week as a sharp selloff in SpaceX shares erased nearly $1 trillion from the company's market value, raising fresh questions about the sustainability of its post-IPO rally.
Musk's net worth has fallen to around $1.1 trillion, according to market estimates, after SpaceX stock extended its losing streak to a third straight session on Monday. The stock plunged 16%, taking its cumulative decline from its June 16 peak to more than 30%.
