₦airaland Forum

Elon Musk has suffered the biggest ever loss of personal wealth after a dramatic fall in the value of SpaceX.

The trillionaire’s net worth dropped by $350bn (£264bn) in a week following a decline of almost 30pc in his rocket company’s share price from its peak last Tuesday.

The world’s richest man’s fortune has fallen from $1.45tn to just under $1.1tn, according to Forbes calculations.

The decline is worth more than the entire wealth of the world’s second-richest man, Larry Page, whose fortune stands at just over $299bn.

RichDad1:
Time for Bitcoin to rise again

givedemwotowoto:
This is the time to buy. I told you

Uhtred:
If you understand technical analysis of the stock market, you will realize that it's just market manipulations. Some institutions are selling their stock thereby causing a drop in price. Same institutions will buy back at a lower price and the market will become bearish.

Summary: Elon will recover his money back.

TheStoriesOfMan:
Them go use your portfolio do liquidity.

geoworldedu:
May I lose such amount of money in my lifetime. Amen.

givedemwotowoto:
Read the full analysis of the comment you quoted.

givedemwotowoto:
As long as there’s no fundamental unrecoverable problem with SpaceX, this is probably the time to buy

How stock works in a very simple overview is, let’s say a company wants to sell shares for $1 per share.

Before they go public, they first of all sell to private investors at let’s say 50 cents. They may even do multiple private rounds at different prices.

When the shares finally go public at $1, that’s when you and I (the ordinary people) buy.

After the public sales, initial investors sell off their shares. If you bought at 50 cents, you’ve automatically made 100% profit.

Once they sell off, the prices drop like you see now. That’s when some ignorant folks start selling at a loss out of panic, thinking there’s a problem.

Funny thing is, if it drops by 50%, the same investors who sold off will buy again. When it starts rising again as they’re buying, some of us will jump back in again due to FOMO, then they sell off again, and the cycle continues.

I explained this in the simplest form without boring you with technical jargons.

SyrusdeHansome:
All dis audio money wer de make some of us question whether na de same God wer create Elon Musk create us. This life is deep. Dangote can employ every Nigerian, including the current president and Elon Musk can employ 100 Dangotes. Life na by levels while men are in sizes.

givedemwotowoto:
As long as there’s no fundamental unrecoverable problem with SpaceX, this is probably the time to buy

How stock works in a very simple overview is, let’s say a company wants to sell shares for $1 per share.

Before they go public, they first of all sell to private investors at let’s say 50 cents. They may even do multiple private rounds at different prices.

When the shares finally go public at $1, that’s when you and I (the ordinary people) buy.

After the public sales, initial investors sell off their shares. If you bought at 50 cents, you’ve automatically made 100% profit.

Once they sell off, the prices drop like you see now. That’s when some ignorant folks start selling at a loss out of panic, thinking there’s a problem.

Funny thing is, if it drops by 50%, the same investors who sold off will buy again. When it starts rising again as they’re buying, some of us will jump back in again due to FOMO, then they sell off again, and the cycle continues.

I explained this in the simplest form without boring you with technical jargons.

givedemwotowoto:
As long as there’s no fundamental unrecoverable problem with SpaceX, this is probably the time to buy

How stock works in a very simple overview is, let’s say a company wants to sell shares for $1 per share.

Before they go public, they first of all sell to private investors at let’s say 50 cents. They may even do multiple private rounds at different prices.

When the shares finally go public at $1, that’s when you and I (the ordinary people) buy.

After the public sales, initial investors sell off their shares. If you bought at 50 cents, you’ve automatically made 100% profit.

Once they sell off, the prices drop like you see now. That’s when some ignorant folks start selling at a loss out of panic, thinking there’s a problem.

Funny thing is, if it drops by 50%, the same investors who sold off will buy again. When it starts rising again as they’re buying, some of us will jump back in again due to FOMO, then they sell off again, and the cycle continues.

I explained this in the simplest form without boring you with technical jargons.

PulaPower:
Jargons

You have no clue what you’re talking about..

TruthU87:
https://www.telegraph.co.uk/business/2026/06/23/elon-musk-loses-record-350bn-in-a-week-as-spacex-slumps/

Wotowotoman:
Ogbeni, try to always include the source wey you copy and paste your epistles from