Elon Musk’s net worth stood below $700 billion on July 31, 2026, reflecting a steep post-IPO decline in SpaceX shares that erased hundreds of billions from his fortune since the June peak above $1.3 trillion. The drop was driven by successive pullbacks in the rocket company’s valuation—exacerbated by an aborted Starship launch attempt—alongside a roughly 26% slide in Tesla stock amid broader market pressures. Traders see virtually no realistic path above the threshold by month-end because the SpaceX correction has remained consistent through late July, with Bloomberg and Forbes estimates hovering in the mid-to-high $600 billion range. Only an abrupt, large-scale rebound in both SpaceX and Tesla equities on the final trading day could have altered the outcome, a scenario unsupported by recent trading patterns.