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Was SpaceX's IPO a Scam? Elon Musk loses trillionaire status as SpaceX shares tumble.

 


Was SpaceX's IPO a Scam? Elon Musk loses trillionaire status as SpaceX shares tumble. 

Elon Musk, chief executive officer (CEO) of Tesla and SpaceX, has lost his trillionaire status following a sharp decline in the value of the rocket company’s shares.

According to the Bloomberg Billionaires Index, Musk’s net worth fell to $946 billion on Thursday, down from the more than $1 trillion valuation recorded on June 12 following SpaceX’s initial public offering (IPO).

The billionaire became the world’s first trillionaire after the successful listing of SpaceX, with his fortune surging from $707 billion to more than $1.1 trillion within days of the company’s market debut. 

However, less than two weeks later, a sustained decline in SpaceX shares has erased hundreds of billions of dollars from his wealth.

Visit: https://www.thecable.ng/elon-musk-loses-trillionaire-status-as-spacex-shares-tumble/ to read more 

Source: TheCableNG

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