SpaceX Overtakes Tesla As Cornerstone Of Musk's Declining Net Worth

Despite SpaceX's latest launch ending in a fiery crash, as we noted earlier this week, that hasn't stopped employees from apparently "rejoicing" about the Falcon Heavy's launch delivering 24 satellites into orbit, according to Bloomberg

Apart from the center booster failing to land on a ship in the Atlantic Ocean, the mission is being deemed a success, and was once dubbed "SpaceX’s toughest test". 

As it has been making progress, SpaceX has become one of the world's most valuable closely-held private companies. It's now worth $34 billion, and SpaceX equity is starting to become far more in demand than Tesla's equity, which has fallen 33% this year.

As such, Musk's personal net worth picture is shifting accordingly, with SpaceX now his most valuable asset. It makes up more than two thirds of Musk's net worth now - a reversal from previous years where Tesla was responsible for most of his fortune.  

Recall, in early June, we wrote an article about how Musk's net worth had fallen $4.9 billion since the beginning of the year. Musk's net worth now stands at $19.7 billion and this has bumped Musk from #29 on the Bloomberg Billionaire's Index down to #46. 

Ellison bought 3 million shares last year and joined the company's board in December.