Tesla and SpaceX have plummeted, and Elon Musk's net worth has shrunk by 528.6 billion yuan in four days.

This week, the U.S. stock market has witnessed drastic adjustments, with technology stocks being heavily sold off. As Tesla and SpaceX, the two core assets under his banner, weakened simultaneously, the paper wealth of billionaire Elon Musk has shrunk significantly, and his net worth that had previously returned to the trillion-dollar mark has fallen again. 

The Bloomberg Billionaires Index shows that within the four trading days of this week, Musk's net worth dropped from 1 trillion U.S. dollars to 921 billion U.S. dollars, shrinking by about 79 billion U.S. dollars (equivalent to about 528.6 billion yuan). Just last week, Musk had just returned to the trillion-dollar net worth level. 

The real-time billionaires list on Forbes official website shows that as of 9:30 p.m. Eastern Time on October 15, Musk's wealth shrank by 200 billion U.S. dollars (equivalent to about 133.8 billion yuan) compared with the previous trading day, and the total shrinkage of his wealth ranked first among all billionaires. 

As of the close of local time on October 15, Tesla closed down 1.29%, with a cumulative decline of 5.29% this week; SpaceX closed down 2.33%, with a cumulative decline of 8.58% this week. 

Tesla will release its Q3 financial performance after the U.S. stock market closes on Wednesday, October 21. According to reports from Barchart, a U.S.-based global financial market data and technology service provider, ahead of the earnings release, the electric vehicle manufacturer announced better-than-expected delivery figures, but the outperformance of delivery volume may not be enough to make Tesla an attractive buy target. Despite the stronger-than-expected performance data, Tesla's valuation still needs to be treated with caution before the earnings release. 

SpaceX has fallen for 7 consecutive trading days recently. In addition to the impact of the overall tech stock market, its decline also stems from investors' concerns about its large-scale financing moves. 

According to a report by the UK's Financial Times on local time October 6, SpaceX plans to raise 40 billion U.S. dollars, led by asset management firm Apollo Global Management, to purchase artificial intelligence chips from NVIDIA. After the news came out, SpaceX's share price fell immediately. 

Since Musk's assets are highly tied to the equity of listed companies, his personal net worth fluctuates drastically along with the ups and downs of the stock market. Once the market style shifts and growth stocks face valuation compression, his net worth will rapidly shrink by tens of billions of dollars. During a sharp decline in July earlier this year, Musk once quipped on social platforms that he was a "(former) trillionaire".

"Being a trillionaire represents some shares of the companies I founded, not money sitting in my bank account," Musk said in an interview with entrepreneur Peter Diamandis earlier this year, as recently reported by Fortune magazine. 

Few people can reach a 13-digit net worth in their lifetime. But Musk said this staggering figure is not as simple as it seems on the surface. He also predicted that in 10 years, his wealth could be worth nothing. Musk believes that due to the benefits brought by artificial intelligence, the importance of monetary wealth will decrease. 

The views in this article are for reference only and do not constitute investment advice. Investment carries risks, and caution is advised when entering the market. 

This article is from the WeChat Official Account "China News Finance" (ID: jwview), written by Luo Kun, and republished with authorization from 36Kr.