After Losing 40% Of His Net Worth In A Month, Elon Musk Attempts To Raise $4 Billion For Another Company

Elon Musk has conscionable had the worst period of his fiscal life. His nett worthy fell from a highest of astir $1.32 trillion to astir $832 cardinal implicit the people of a month, a diminution of astir 37%, oregon astir $500 billion, according to Benzinga's tracking. While the Bloomberg Billionaires Index ticks backward astatine the fastest gait ever recorded for a azygous individual, Musk is softly raising wealth for the institution astir nary 1 talks about.

The Boring Company, Musk's tunnel-construction venture, is reportedly successful talks to rise astir $4 cardinal successful caller backing astatine a valuation of astir $20 billion, much than tripling its 2022 valuation of $5.7 billion. As of the astir caller reporting, the woody has not closed and presumption could change; Musk has not publically commented.

Where the Money Went

The superior operator of the wipeout was SpaceX. SpaceX shares fell astir 41% to 45% implicit the applicable month, erasing much than $1 trillion successful marketplace cap, with an aborted Starship motorboat accelerating the slide. Tesla did the rest. On July 22, 2026, Tesla (NASDAQ:TSLA) reported second-quarter gross of $28.24 cardinal but adjusted net of conscionable $0.33 per share, missing statement by 38.51%. Free currency travel swung to antagonistic $1.09 cardinal arsenic superior expenditures much than doubled. The banal closed astatine $313.03 connected July 24, down 17.81% for the week and 30.39% twelvemonth to date.

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Tesla CFO Vaibhav Taneja told analysts that "CapEx much than doubled sequentially, and we expect it to summation further successful the 2nd fractional of 2026," confirming Tesla volition walk much than $25 cardinal this twelvemonth and unafraid indebtedness facilities to get up to $30 billion. Musk framed the outlays arsenic "one of the fastest concern scale-ups successful America" since World War II. Short sellers booked astir $4 cardinal successful a azygous time connected the Tesla drop.

The Company Nobody Watches

A $4 cardinal backstage circular for a tunneling institution would ordinarily pb the news. It has not. That reticence has been the Boring Company's defining feature. The task operates the Vegas Loop, and has pitched oregon announced projects successful Nashville, Dubai, Baltimore, Chicago, and Los Angeles. It has astir 687 to 707 employees arsenic of mid-2026, with yearly gross estimates ranging widely, from astir $25 cardinal to $500 cardinal depending connected the source.