Tesla and SpaceX lost a combined $456 billion in equity value over Wednesday and Thursday as investors reassessed political risks, AI infrastructure spending and Musk’s companies’ expansion plans. Tesla fell 10.77% Thursday to $343.69, while SpaceX dropped 9.05% to $123.62, about 8.4% below its $135 June IPO price, leaving its market capitalization near $1.68 trillion. Musk’s estimated fortune declined $79.7 billion Thursday to $785 billion on the Bloomberg Billionaires Index, which continued to rank him as the world’s richest person. Earlier figures cited a $79.3 billion one-day decline and a fortune of about $789.5 billion, while Forbes’ real-time ranking also kept him in the top position at the Nov. 5 U.S. close.