Rahat Vmbpfm

That October 2025 dip was primarily driven by a sharp decline in Tesla's stock price following their Q3 earnings report. Tesla missed delivery estimates by about 5% due to production challenges at their new Texas factory and increased competition from Chinese EV makers. The stock dropped around 15% over two weeks, which translated to roughly $30-40 billion loss for Musk given his Tesla stake. There were also concerns about slowing EV demand in some markets and increased regulatory scrutiny of Tesla's autonomous driving claims. SpaceX's valuation held relatively steady during this period, but since Tesla represents the majority of his wealth, the Tesla decline was enough to push him briefly below the $500 billion threshold. He recovered fairly quickly as Tesla stock bounced back after they addressed the production issues and provided strong Q4 guidance.

Neuralink is fascinating because it's one of Musk's most speculative but potentially transformative ventures. Currently, Neuralink is valued around $15-20 billion based on their latest funding rounds. Musk owns a significant stake - probably 40-50% - so that translates to roughly $6-10 billion of his net worth. While that's relatively small compared to his Tesla and SpaceX holdings, the potential upside is enormous if they can successfully commercialize brain-computer interface technology. They've made progress with their first human trials, and if they eventually get FDA approval for medical applications, the valuation could skyrocket. For now though, it's more of a "option value" - representing potential future wealth rather than current substantial contribution. Most wealth tracking services include it in their calculations, but it's not a major driver of day-to-day net worth fluctuations.