Elon Musk's SpaceX has lost more than $1.2 trillion in market capitalization since June. This is comparable to the value of electric car maker Tesla, also headed by Musk, CNBC reported.

As noted, after SpaceX went public, its shares soared to $225.6 in mid-June, but on July 27 the company's stock closed at $113.5. This resulted in a $1.2 trillion loss in SpaceX's market capitalization. By comparison, Tesla's market capitalization stands at $1.22 trillion.

Musk previously jokingly called himself a “former trillionaire.” On June 12, he became the first person in the world whose wealth exceeded $1 trillion, after trading began in shares of SpaceX, the company he founded. On June 24, his assets fell to $957 billion. His fortune now stands at $709 billion, according to Bloomberg's Billionaires Index published by the agency.