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Elon Musk’s trillionaire status at risk after drops in SpaceX and Tesla’s shares – business live

The Guardian Business Wednesday 24 June 2026, 06:48 UTC By Graeme Wearden 1 min read
Key Points

Rolling coverage of the latest economic and financial newsGood morning, and welcome to our rolling coverage of business, the financial markets and the world economy. Elon Musk could soon be down to his last thousand billion dollars, after the share price of his recently floated SpaceX came under pressure this week. SpaceX might have seemed charmed after its record-breaking IPO and subsequent rally, but it’s come down to earth with a bump over the past couple of days, with shares at one point...

Rolling coverage of the latest economic and financial news

Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy.

Elon Musk could soon be down to his last thousand billion dollars, after the share price of his recently floated SpaceX came under pressure this week.

SpaceX might have seemed charmed after its record-breaking IPO and subsequent rally, but it’s come down to earth with a bump over the past couple of days, with shares at one point falling below the opening price on its market debut.

“Post-IPO stocks often enter a period of volatility as the market gets to grips with the new entrant, some investors rush to cash out, and others assess at what price they are willing to jump in.

9am BST: IFO survey of Germany’s business climate

10am BST: House of Lords Financial Services Regulation Committee hearing on the consumer insurance market

10:15am BST: Treasury Committee hearing on the Financial Services and Markets Bill

Noon BST: US mortgage approvals data

3pm BST: US new home sales data for May

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Elon Musk’s (PERSON) SpaceX (ORG) Tesla (ORG) Elon Musk (PERSON) IPO (ORG) BST (ORG) IFO (ORG) Germany (LOCATION) House of Lords Financial Services Regulation Committee (ORG) Treasury Committee (ORG) the Financial Services and Markets BillNoon (ORG) US (LOCATION)
Originally published by The Guardian Business Read original →

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