Billionaire’s Rocket Company Now Worth $147 Billion, Outpacing Tesla Amid Sharp Sell-Off
Elon Musk, the world’s richest person with a net worth of $323 billion, has seen a dramatic shift in his asset portfolio as his SpaceX stake overtakes Tesla for the first time in five years. According to Forbes, Musk’s SpaceX shares are now worth an estimated $147 billion, surpassing his Tesla holdings by approximately $20 billion.
The sharp divergence comes as Tesla stock continues to tumble, having lost nearly 50% of its value since December, weighing heavily on Musk’s overall wealth.
SpaceX Now Musk’s Crown Jewel
Musk’s private rockets and satellites company, SpaceX, has rapidly grown in value, driven by its dominance in the space industry. The company’s Starlink satellite internet service and successful Falcon rocket launches have made it a lucrative and sought-after asset.
As a result, Musk’s SpaceX stake has become his largest single holding, highlighting the increasing market confidence in the company’s long-term potential.
Tesla’s Stock Market Troubles Intensify
Meanwhile, Tesla (NASDAQ: TSLA) has been battered by a sharp sell-off, exacerbated by market volatility and rising concerns over Musk’s distracted leadership.
On Tuesday, Tesla shares plunged another 5.4%, contributing to Wall Street’s broader struggle, with the S&P 500 closing down 1.1%.
The stock’s freefall has been a windfall for hedge fund short sellers, who have reportedly made over $16 billion in paper profits by betting against Tesla, according to data from S3 Partners, cited by the Financial Times.
Musk Balances Tesla, SpaceX, and Government Overhaul
Musk’s divided attention has become a major concern for Tesla investors, as the billionaire continues to oversee a vast restructuring of the federal government.
Musk, who is now spearheading the so-called “Department of Government Efficiency” (Doge), has orchestrated mass layoffs of thousands of federal employees. In a recent Fox Business interview, Musk admitted he was juggling his responsibilities with “great difficulty”, stating:
“I’m just here trying to make government more efficient, eliminate waste and fraud. So far, we’re making good progress, actually.”
Public Sentiment on Musk Remains Divided
Despite Musk’s growing influence, public opinion appears increasingly polarized. According to a new NBC News poll, slightly more Americans support Doge than oppose it, but more people hold negative views about Musk personally.
As Tesla’s stock struggles and SpaceX thrives, all eyes remain on Musk’s next moves, with investors weighing whether his government ambitions will continue to overshadow his business empire.
