According to CoinMeta, Elon Musk's net worth declined by nearly $50 billion in 53 days, mainly due to the decline in the stock price of SpaceX. At the same time, Tesla's performance and his ranking among billionaires also put pressure on his net worth. According to Forbes' net worth chart, Musk's wealth was approximately $1.32 trillion on June 16, but it dropped to $823.6 billion on August 8, a decrease of about $496.4 billion or 37.6%. The IPO of SpaceX is priced at $135 per share, and it reached a high of $225.64 during trading on June 16, but by July 27 it had fallen to around $109.50, causing Musk's wealth to fall below $700 billion for a period of time. Although the stock price of SpaceX has rebounded recently, it is still about 41% lower than its peak on June 16. Tesla's stock price closed at $328.58 on Friday, with a gain of about 2.8%.