New Delhi: Elon Musk’s personal fortune has shrunk by more than $600 billion in just over a month following a sharp decline in the shares of SpaceX and Tesla, even as he continues to prioritise investments in artificial intelligence, autonomous driving and robotics.

Musk’s net worth has fallen to around $684 billion from a peak of nearly $1.33 trillion reached on June 16, when SpaceX briefly propelled him to become the world’s first trillionaire. The scale of the decline exceeds the total net worth of every other billionaire except Musk himself.

The erosion has been driven primarily by a steep correction in SpaceX shares after the company’s market debut. Having raised $75 billion in what was described as the largest initial public offering in history, SpaceX listed at $150 per share, above its IPO price of $135. Investor enthusiasm initially pushed the stock up more than 50 per cent within three trading sessions, with shares touching a record closing high of nearly $202 on June 16.

The rally proved short-lived. SpaceX shares have since fallen about 46 per cent from their peak to a record low of $108.37, wiping out hundreds of billions of dollars from Musk’s fortune.

Pressure on his wealth has been compounded by weakness in Tesla shares. The electric vehicle maker’s stock has dropped 17 per cent since the company reported its second-quarter earnings on July 22. Tesla missed analysts’ profit estimates for the first time in more than two years and posted negative free cash flow as spending on artificial intelligence and robotics accelerated.

The company attributed the pressure on profitability to higher operating expenses linked to AI investments, lower average selling prices and weaker regulatory credit revenue, even as vehicle deliveries increased.

Despite the near-term financial pressure, Musk remains committed to an aggressive investment strategy. He has said Tesla plans to spend more than $25 billion this year—nearly three times the amount invested last year—to expand its capabilities in AI-powered self-driving technology, robotaxis and humanoid robots.

The sharp swing in Musk’s net worth underscores the volatility associated with concentrated holdings in high-growth technology and space companies. While the long-term bets on autonomy and robotics remain central to his strategy, the recent market corrections have significantly reduced the paper value of his fortune in a short period.