Share Source: Business Insider
The dramatic drop in SpaceX and Tesla shares has led to American businessman Elon Musk once again becoming a billionaire after several weeks as a trillionaire – by the way, the first in the history of mankind.
Key points:
- The shares of many technology companies are currently experiencing volatility.
- Investors are concerned about artificial intelligence “bubbles” and rising interest rates.
Elon Musk is once again among the billionaires
According to Business Insider, the businessman’s fortune has sharply decreased and fallen below the one trillion dollar mark.
Analysts have calculated that as of today, Musk has assets worth approximately $957 billion at his disposal.
Importantly, he became a trillionaire at the beginning of June when the initial public offering of SpaceX valued the space company at over $2 trillion.
For several consecutive days, quotations moved upwards – this triggered a frenzy of interest from retail investors in Elon Musk’s new ideas and promises.
Despite this, SpaceX shares recently began to plummet. Thus, on June 23, they were worth about $156 per share.
It is worth noting that this is almost a third lower than the daily high of $225 recorded on June 16.
One of the reasons for the fall in share value is considered to be the warnings from analysts and experts.
The latter are not very confident in the possibility of realizing Musk’s ambitious plans – from creating data centers in space to colonizing Mars. All of this is questionable.