The Unbridled Ambition of Elon Musk: A Recipe for Risk and Reward? Elon Musk's SpaceX has shed nearly $500 billion in market capitalization since its IPO in June, plummeting from a peak valuation of $2 trillion.
Despite better than expected revenue growth in the second quarter and narrowed losses, the company's stock slid more than 5% after results were released.
Musk remains confident that SpaceX will hit its internal target for $1 trillion in annual revenue by 2030, with a "non zero chance" it hits the mark in 2029.