SpaceX’s drop-off sees Elon Musk’s net worth fall $240 billion—roughly the same value as computing giant IBM

Elon Musk's net worth has experienced a significant decline, dropping from its peak of $1.32 trillion to $1.08 trillion as per the Bloomberg Billionaires Index. This drop, equating to roughly $240 billion, mirrors the value of the computing giant IBM. The fluctuation in Musk's wealth is largely attributed to changes in the valuation of SpaceX shares. Such shifts underscore the volatility in billionaire fortunes tied to the performance of their companies and the broader market dynamics.