Musk's Net Worth Plummets by $50 Billion Amid SpaceX and Tesla Declines

Elon Musk lost an estimated $50 billion in a single day as SpaceX's shares plummeted by over 6% and Tesla dropped nearly 4%. This decline pushed his net worth below the $1 trillion mark. The sudden drop was a stark contrast to the previous record high, which saw him briefly surpassing this milestone.

Meanwhile, SpaceX's Bitcoin wallet made its first transaction in six months, moving 18,712 BTC. This move suggests that Musk's company is actively managing its cryptocurrency holdings, despite the turbulent market conditions.