- SpaceX shares closed at $115.07, nearly 49% below their $225.64 post-IPO peak.
- Elon Musk’s fortune fell from about $1.4 trillion to roughly $725 billion after the slide.
- SPCX must reclaim $147.11, while a break below $110.85 could expose the $100 level.
Elon Musk’s brief trillionaire era ended after SpaceX shares fell below their IPO price, reversing one of Wall Street’s most dramatic market debuts. SPCX closed Friday at $115.07, nearly 49% below its $225.64 peak and about 15% under the $135 offer price.
The reversal prompted Musk to call himself a “(Former) Trillionaire” on X rather than a billionaire. Binance founder Changpeng Zhao replied, “New definition of pre-rich,” fueling memes and a short-lived $PRE-RICH token.
SpaceX’s Record IPO Fueled Musk’s Trillionaire Rise
SpaceX’s listing followed years of caution from Musk, who had resisted public-market pressure and delayed a possible Starlink offering. However, that position changed in 2026 when the company listed its rocket, satellite internet, and AI-linked operations.
The company sold 555.6 million shares at $135, raising a record $75 billion. Underwriters later lifted total proceeds to about $85.7 billion. At the same time, SpaceX departed from Wall Street convention by fixing its price before the roadshow and reserving up to 30% for retail buyers.
As a result, demand reportedly reached almost four times the available shares. SPCX then opened at $150 on June 12 and gained 19% during its first session. That surge pushed SpaceX’s valuation above $2 trillion.
Following the strong debut, Forbes estimated Elon Musk’s fortune at nearly $1.4 trillion, making him the world’s first trillionaire. However, that status quickly faded as early momentum weakened and the share price began a sustained reversal.
SPCX Slides Toward Support After Post-IPO Reversal
The downturn began after SPCX faced strong rejection near $225, triggering a 34.8% decline toward $147.11 in late June. Although shares later rebounded 17.2% to $172.40, the recovery failed to hold.
As a result, the stock continued forming lower highs and lower lows, confirming a bearish market structure. Selling pressure then intensified after SPCX broke below $147.11, pushing the price another 35.7% toward $110.85.
By Friday’s close, the stock remained only slightly above that support after trading between $110.25 and $118.10. Therefore, a confirmed break below $110.85 could expose the lower psychological levels at $105 and $100.
On the upside, buyers must first reclaim $147.11 to weaken the current decline. However, a stronger recovery would require a sustained move above $172.40, which remains the chart’s main resistance zone.
Meanwhile, the broader decline reduced Elon Musk’s estimated fortune to about $725 billion. Investors now focus on SpaceX’s first quarterly results and upcoming Starship milestones for further direction.
Related: Elon Musk’s Net Worth Falls Below $900 Billion After SpaceX Stock Retreat
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