Musk said money doesn’t matter. The market just took $1.2tn of it anyway.

“Money doesn’t matter,” Elon Musk said last week. Days later he launched a payments service, X Money, and described himself as a “former trillionaire”. The market had just proved his first point in the least flattering way. SpaceX’s post-IPO rout has left Musk poorer than he was before the company floated, Fortune reported. His wealth peaked near $1.33tn on 16 June. It now stands at about $684bn, a fall of more than $600bn in barely a month. The share price tells the same story. SpaceX reached a closing high of $201.80 on 16 June, then fell 46% to a record…