Elon Musk loses over $600 billion since June 16 peak
Business
Elon Musk's net worth has dropped by over $600 billion, falling from a peak of about $1.33 trillion to $684 billion since June 16.
SpaceX slides 46% with 911.5 million shares
SpaceX shares have slid 46%, and things might get shakier as as many as 911.5 million shares belonging to insiders and early backers are about to hit the market.
Tesla's stock is also down 17% after the company spent big last quarter and ended up cash-negative for the first time in two years, even though car sales were strong.
Still, Musk holds major stakes in both companies, but their value keeps shifting with the market.