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Elon Musk made history in June when SpaceX's blockbuster stock market debut pushed his net worth beyond $1 trillion.
Jeff Bezos backs a platform that lets anyone invest in rental homes for as little as $100 —6 ways to build wealth like a landlord without actually being one JPMorgan still sees gold hitting $5,000/oz by Q4 — and savvy investors are protecting their wealth with a tax-advantaged Gold IRA.Learn more with a free guidefrom Priority Gold The tax breaks in Trump's 'big beautiful bill' expire after 2028 — and experts say most people won't act in time.What to do before the window closes "(Former) Trillionaire," Musk wrote in a viral post (1) on X on July 24, apparently poking fun at the extraordinary reversal in his net worth.
At its peak, Musk's fortune was estimated at roughly $1.45 trillion (2).
By July 27, Forbes estimated that his net worth had dropped below $700 billion — wiping more than $750 billion from his fortune on paper.
That is more money than almost anyone could spend in several lifetimes.
Yet Musk seems to be taking it better than most people handle a bad day in their 401(k).
He did not panic, dump his holdings or retreat into cash.
That is partly because the ultra-rich experience market losses differently from ordinary investors.
In Musk's case, much of his wealth is tied to the companies he helped create, meaning sharp fluctuations are an unavoidable part of owning the assets that made him rich in the first place.
Tesla (NASDAQ:TSLA) shares have plunged 25% over the past month, while SpaceX (NASDAQ:SPCX) has delivered a turbulent ride since going public in June.
The stock debuted at $135 and initially surged as high as $225.64.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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