Tesla, the jewel of Musk’s public holdings, has paid the price. The electric vehicle company has shed over $350 billion in market cap since the start of the year. X, formerly known as Twitter, hasn’t fared much better: its AI chatbot Grok has been caught spewing antisemitic content, and CEO Linda Yaccarino just announced her resignation on July 9.

SpaceX has a new valuation, according to Bloomberg. It’s an eye-popping $400 billion, up from a recent $350 billion, following a capital raise and stock sales by insiders. The $50 billion increase makes Musk about $20 billion richer, as he is thought to hold some 40% of SpaceX stock.

The value of SpaceX has hit $400 billion. This has added to Elon Musk's net worth which has dropped because of problems at Tesla.