Visionary Elon Musk is no longer a trillionaire. Less than two weeks after becoming the first person in history to amass such a fortune, his fortune has fallen below $1 trillion. This is due to a sharp sell-off in SpaceX and Tesla shares, writes "The Independent".
According to the Bloomberg Billionaires Index, Musk's net worth has fallen to about $957 billion, ending his brief stint as the only person in history with a 13-figure fortune. This comes amid a dramatic decline in SpaceX’s stock price since the company’s stock market debut earlier this month.
Musk became the world’s first trillionaire on June 12, 2026, when SpaceX went public. Investor enthusiasm boosted the company’s valuation above $2 trillion and briefly boosted his wealth to around $1.1 trillion. However, the euphoria quickly faded.
At its peak, SpaceX was valued at nearly $3 trillion, briefly becoming one of the most valuable companies in the world.
Because much of Musk’s wealth is concentrated in his corporate assets, rather than cash, fluctuations in the stock prices of SpaceX and Tesla can cause huge changes in his net worth.