Elon Musk’s net worth has fallen by more than $684 billion from its peak as shares of Tesla (NASDAQ: TSLA) and SpaceX retreated sharply amid ongoing merger speculation. Bloomberg data showed that Musk’s wealth dropped by over $18 billion in a single trading session on Friday, bringing his total fortune to $684 billion. At his peak, Musk was worth over $1.33 trillion, meaning the cumulative loss now exceeds $646 billion by Bloomberg’s calculations. General Electric serves as a prominent example of this trend, having split into three distinct entities: GE Aerospace, GE Healthcare, and GE Vernova, each unlocking separate market valuations. With SpaceX earnings due imminently and merger speculation still unresolved, both stocks remain under significant pressure as traders assess the long-term implications of Musk’s restructuring ambitions.