20260626 Musk weltweit erster Ex-Billionär

Just minor fluctuations?

“Elon Musk Is No Longer a Trillionaire,” reads the headline on ntv.de in the linked article, which reports that he following SpaceX’s (ominous) IPO a few days ago, has lost approximately $350 billion since becoming the world’s richest man and the first trillionaire. That is more than the annual budget of many small to medium-sized countries. Are such losses normal, or do they rather indicate that “the stock market” — in part due to the rule changes implemented on his behalf — has become less and less of a reflection of a company’s economic performance.

In any case, if you subtract the 800 billion raised in the IPO from his current net worth of 957 billion, the remainder either indicates that his other companies (Tesla, Starlink, X, ...) are worth less than previously assumed, or that the SpaceX IPO was a scam that simply took money out of the pockets of speculators and (unfortunately) others as well. In any case, SpaceX stock — which saw a 70% gain after the IPO and is now down 35% — remains a highly risky investment. This will not change as long as SpaceX continues to generate losses.

The problem is that what we predicted in the article linked above is now set to come true: SpaceX will have to be included in major indices in the coming weeks — due to rule changes. Many exchange-traded funds (ETFs) that track these indices will then be required to buy SpaceX shares. The stock is already expected to be included in the Russell indices today. This will lead to further inflows of capital and, unfortunately, will also involve pension funds worldwide, which will then have a very strong interest in ensuring that SpaceX becomes a success story—otherwise, their pensions are in jeopardy. Who is currently introducing the stock-based pension plan here? Former BlackRock supervisory board member Merz

Translated with DeepL.com (free version)