Elon Musk no longer a trillionaire as AI bubble pops and SpaceX crashes

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  • Post last modified:24 June 2026

On Friday 12 June, Elon Musk became the world’s first trillionaire. He achieved this on the back of his company SpaceX going public, despite said company not being profitable. This has inevitably led to the following: JUST IN: SpaceX lost $1 trillion in market cap since last week — Kalshi (@Kalshi) June 23, 2026 Oh, and thanks to all this, the wretched Musk has already lost his ‘trillionaire’ status: Elon Musk is no longer a trillionaire after a global rout in tech shares wiped $500bn (£379bn) off his fortunehttps://t.co/XYksFxIBdq pic.twitter.com/IMDRbV9LwZ — The Telegraph (@Telegraph) June 24, 2026 Hey Elon Musk: money…

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Musk’s SpaceX, like the U.S. military, is stranded by critical minerals

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  • Post last modified:17 June 2026

The world’s richest man’s new company — SpaceX — may have counted many a chicken before they hatched. China’s chokehold on solar cells and equipment, tungsten, indium, yttrium, and other critical materials should cast doubt on the prowess of American industry, defence and SpaceX alike. The Washington Post’s recent report on the stalled SpaceX-Suzhou Maxwell negotiations shows that all is not well behind the showmanship of American industrial power under Trump and Musk. China is quietly expanding its export control regime against the U.S. and American allies, reaching beyond rare earth minerals to pinch choke points that affect key U.S. industries,…

Continue ReadingMusk’s SpaceX, like the U.S. military, is stranded by critical minerals