Topline
Elon Musk lost around $21 billion on Wednesday morning after reports that SpaceX is in talks with banks and investors to raise $40 billion for Nvidia chips caused the company’s stock to fall around 2%, bringing his net worth down days after he regained his trillionaire status.
CEO of Tesla and SpaceX Elon Musk reacts as US President Donald Trump speaks to the press after a meeting with technology executives about artificial intelligence at the White House in Washington, DC, on September 29, 2026. (Photo by Kent NISHIMURA / AFP via Getty Images)
AFP via Getty Images
Key Facts
Elon Musk’s net worth was down over $21 billion as of 11:35 a.m. EDT on Wednesday, bringing his current worth to $1.03 trillion — a 2.04% drop coming just two days after he became a trillionaire again.
SpaceX shares were down around 2% on Wednesday, trading at $168.86 as of 11:35 a.m. EDT after the Financial Times first reported that the company plans to borrow $40 billion to buy AI chips from Nvidia, citing people familiar with the matter.
SpaceX reportedly plans to raise $30 billion in investment-grade debt and $10 billion in bank loans, led by asset manager Apollo Global Management with Pacific Investment Management Co. reportedly also involved.
The reports say the deal is in an early stage and could ultimately not be completed, but currently plans to close in 2027.
Nvidia stock dropped less than 1%, trading at $237 as of 11:35 a.m.
Tesla shares were down around 1.5% as of 11:15 a.m. EDT, trading at $375.38, also contributing to Musk’s morning losses given he owns nearly 11% of the company.
KEY BACKGROUND
Wednesday morning’s losses come after SpaceX and Tesla shares rose on Monday, pushing Musk’s net worth up over $30 billion and giving him the trillionaire title once again. SpaceX stock had risen over 5% on Monday morning after Morgan Stanley analysts called the stock “cheap.” Musk also suggested on Sunday that he will change the SpaceXAI name to “SpaceXSI,” in line with President Donald Trump’s belief that artificial intelligence should be called “super intelligence.”
FORBES VALUATION
Musk’s $1.03 trillion net worth puts him firmly in first place on Forbes’ Real Time Billionaires list, with Jeff Bezos in second place with an estimated net worth of $374 billion.
FURTHER READING
Elon Musk Becomes A Trillionaire—Again—After SpaceX Stock Jumps (Forbes)
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