Elon Musk’s estimated net worth fell below $700 billion on Monday after another sharp decline in SpaceX shares erased nearly $30 billion from his fortune.

According to Forbes, SpaceX shares dropped by about 4.8 percent to $109.50 during morning trading on Monday, July 27, extending the stock’s decline to approximately 50 percent since it reached a record high on June 16.

The decline reduced Musk’s estimated wealth by $29.5 billion to about $695.7 billion, marking the first time his fortune had fallen below the $700 billion level since December 18, 2025, when it stood at approximately $680.6 billion.

Despite the setback, Musk remained the world’s richest person, maintaining a substantial lead over Google co-founders Larry Page and Sergey Brin, whose fortunes were estimated at $268.5 billion and $247.1 billion, respectively.

Musk’s wealth is closely tied to his holdings in SpaceX. He reportedly owns about 4.8 billion shares in the aerospace company, alongside approximately 350 million stock options, leaving his personal fortune vulnerable to significant changes in the company’s share price.

The latest decline came despite SpaceX recording a largely successful Starship test flight on Friday. However, investors appeared cautious about the company’s development programme and the financial demands associated with future launches.

JPMorgan analyst Seth Seifman reportedly said the latest Starship mission would provide investors with plenty to analyse, adding that the company was likely to experience both progress and setbacks during dozens of planned launches through 2027.

SpaceX shares later ended Monday at $113.50, down 1.4 per cent for the session and nearly 50 per cent below their mid-June peak, according to Investopedia. The company is expected to release its first quarterly financial results since its June public listing next week.

The latest loss follows an aborted Starship launch on July 16, which also placed pressure on SpaceX shares and reportedly wiped more than $45 billion from Musk’s estimated fortune.

Although Musk remains far ahead of the world’s other billionaires, the continued decline in SpaceX shares has taken him further away from the trillion-dollar wealth level he previously reached.