Elon Musk's net worth has dropped below seven hundred billion dollars. This significant wealth reduction stems from SpaceX and Tesla stock performance. SpaceX shares have experienced a substantial selloff, impacting Musk's holdings considerably. Tesla's stock also faces pressure after disappointing quarterly earnings reports. Despite these losses, Musk remains the world's wealthiest individual by a wide margin.

The Tesla and SpaceX CEO recently acknowledged his fortune’s decline, calling himself a “former” trillionaire.

Elon Musk's net worth has dropped below seven hundred billion dollars. This significant wealth reduction stems from SpaceX and Tesla stock performance. SpaceX shares have…