{"data":{"prismicArticle":{"uid":"elon-musks-wealth-plunges-by-over-600-billion","tags":["politics"],"first_publication_date":"2026-08-02T18:02:06+0000","last_publication_date":"2026-08-02T18:02:06+0000","data":{"third_party_url":null,"title":{"text":"Elon Musk's wealth plunges by over $600 billion"},"rating":null,"datetime":"2026-08-02T11:38:00+0000","img":{"url":"https://images.prismic.io/prad/33ff1497-128b-47ef-9bf7-7da4c063243c_musk.JPG?auto=format,compress"},"embed":{"embed_url":null,"thumbnail_url":null,"author_url":null,"title":null},"content":{"raw":[{"text":"Elon Musk has seen his personal fortune shrink by more than $600 billion in just over a month after a sharp decline in the shares of SpaceX and Tesla, even as he continues to double down on artificial intelligence, autonomous driving and robotics. "},{"text":"Musk's net worth has fallen to around $684 billion from a peak of nearly $1.33 trillion reached on June 16, when SpaceX briefly propelled him to become the world's first-ever trillionaire."},{"text":"The wealth erosion alone exceeds the total net worth of every other billionaire except Musk himself."},{"text":"The decline has been driven primarily by a steep correction in SpaceX shares following the company's blockbuster market debut."},{"text":"After raising $75 billion in what became the largest initial public offering in history, SpaceX listed at $150 per share, above its IPO price of $135."},{"text":"Investor enthusiasm initially pushed the stock up more than 50 per cent within three trading sessions, with shares touching a record closing high of nearly $202 on June 16."},{"text":"However, the rally proved short-lived. SpaceX shares have since slumped about 46 per cent from their peak to a record low of $108.37, wiping out hundreds of billions of dollars from Musk's fortune."},{"text":"The pressure on Musk's wealth has been compounded by weakness in Tesla shares. The electric vehicle maker's stock has dropped 17 per cent since the company reported its second-quarter earnings on July 22."},{"text":"Tesla missed analysts' profit estimates for the first time in more than two years and posted negative free cash flow as spending on artificial intelligence and robotics accelerated."},{"text":"The company said higher operating expenses tied to AI investments, lower average selling prices and weaker regulatory credit revenue weighed on profitability despite an increase in vehicle deliveries."},{"text":"Despite the near-term financial pressure, Musk remains committed to an aggressive investment strategy."},{"text":"He has said Tesla plans to spend more than $25 billion this year, nearly three times the amount invested last year, to expand its capabilities in AI-powered self-driving technology, robotaxis and humanoid robots."}]}}},"relatedArticles":{"edges":[{"node":{"uid":"pk-wins-bankipur-ends-bjps-dominance","data":{"third_party_url":null,"title":{"text":"PK wins Bankipur, ends BJP's dominance"},"img":{"url":"https://images.prismic.io/prad/9Nc0KXNZhCZPcg6c_prashanthkishorewins.JPG?auto=format%2Ccompress&rect=0%2C28%2C450%2C222&w=2028&h=1000"},"datetime":"2026-08-03T13:25:00+0000"}}},{"node":{"uid":"ktr-threatens-protest-at-ragas--residence","data":{"third_party_url":null,"title":{"text":"KTR threatens protest at RaGa’s  residence"},"img":{"url":"https://images.prismic.io/prad/Zy0Awa8jQArT0i1g_KTR.JPG?auto=format,compress"},"datetime":"2026-08-03T14:15:00+0000"}}},{"node":{"uid":"job-aspirants-flash-protest-in-hyd-demand-20k-poli","data":{"third_party_url":null,"title":{"text":"Job aspirants: Flash protest in Hyd, demand 20K police 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