New York: Elon Musk has lost his trillionaire status less than two weeks after becoming the first person in history to surpass the $1 trillion net worth milestone.
According to the Bloomberg Billionaires Index, Elon Musk fortune fell to approximately $957 billion on Tuesday, down from more than $1.11 trillion earlier this month. Despite the decline, he remains the world’s wealthiest individual by a substantial margin.
Elon Musk first crossed the trillion-dollar threshold after the highly anticipated public listing of SpaceX on June 12.
The company’s stock debuted strongly on the Nasdaq, giving the space exploration giant a valuation of more than $1.7 trillion and significantly boosting Musk’s personal wealth due to his large ownership stake.
Investor enthusiasm initially pushed SpaceX shares even higher, helping Musk’s net worth reach a peak of around $1.32 trillion within days of the company’s market debut.
However, the rally proved short-lived as concerns about artificial intelligence investments, rising infrastructure costs, and broader economic uncertainty triggered a major sell-off across the technology sector.
SpaceX was among the hardest hit. The company’s shares reportedly fell more than 30 percent from their post-listing highs, reducing its market value and significantly impacting Musk’s fortune.
The downturn was compounded by weakness in Tesla shares, which also declined during the broader market correction.
Market analysts noted that volatility is common following major public listings, particularly for companies that attract significant investor attention and high growth expectations.
“For a stock like SpaceX, a lot of decision making might have been emotional and based on the anticipation of huge leaps forward in space exploration and utilisation, but investing should be something treated with clear eyes and patience, even when such huge numbers are involved.” said Danni Hewson, head of financial analysis at AJ Bell.
Despite losing his trillionaire title, Musk remains far ahead of other billionaires globally and could quickly regain the milestone if SpaceX shares recover in the coming weeks.
Analysts note that even a modest rebound in the company’s stock price could push his net worth back above the $1 trillion mark, potentially making Musk the first person to repeatedly enter and exit the trillionaire club.
