SpaceX Valuation Hits $400 Billion, Driving Up Elon Musk’s Wealth

By Douglas A. McIntyre Published Jul 9, 8:54AM EDT

Key Points

SpaceX Is One Of Elon Musk’s Biggest Holdings
The Value Of SpaceX Rose Sharply

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SpaceX Valuation Hits $400 Billion, Driving Up Elon Musk’s Wealth — © Joe Raedle / Getty Images News via Getty Images

The value of privately held rocket company SpaceX rose to $400 billion based on recent stock sales in the private market. The valuation was $350 billion in December. Founder Elon Musk owns 42% of SpaceX and 79% of its voting shares.

While there may be other factors, Elon Musk’s net worth recently rose $3 billion to $349 billion. This still leaves him down $83 billion since the start of 2025.

The drop in Tesla’s (NASDAQ: TSLA | TSLA Price Prediction) stock has not been enough to offset the SpaceX advance. Tesla’s shares are down 29% this year. Its market cap has fallen to $959 billion. Musk owns 14% of the company.

Tesla has been damaged by a falloff in sales which are down over 10% this year. The figures are worse in Europe. Tesla has growing competition in China from local EV companies. Tesla’s self-driving feature is being tested in Austin. The results are inconclusive. Tesla has well funded competitors which include Google’s Waymo. The value of Tesla is based, to some extent, on these self-driving cars and its AI capabilities.

Musk owns several other companies. Another of his largest holdings is xAI, the special media and AI business. Its value has moved up because AI investments have been so hot. It may be the biggest chance for his net worth to recover.

SpaceX has a near monopoly on the rocket business. This has become more critical as more satellites and people have been launched into space. It has also built a huge network of satellites which allow it to offer broadband signals anywhere in the world. It has about 7,500 of these in orbit. Plans call for that number to go as high as 34,000.

About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.