Elon Musk has lost his trillionaire status, less than two weeks after becoming the first person in history to cross the $1 trillion mark — a reversal driven by a punishing selloff in the technology stocks that underpin almost his entire fortune.
The Bloomberg Billionaires Index valued Musk’s net worth at $957 billion on Tuesday, down from the historic milestone he crossed earlier this month after SpaceX’s blockbuster initial public offering propelled him into the trillionaire club. Forbes placed the figure marginally higher at $970.2 billion. The divergence reflects differing valuation methodologies, but the headline remains the same: the world’s richest man is once again a billionaire.
Musk made history on June 12 when SpaceX debuted on the Nasdaq exchange. The IPO was priced at $135 per share and opened at $150 when trading began. At that price, the listing valued SpaceX at more than $1.77 trillion. With Musk holding roughly 42% of the company, the listing instantly pushed his fortune above the $1 trillion threshold.
The rally accelerated in the days that followed. By June 16, SpaceX shares had surged approximately 40% to around $225, lifting Musk’s peak estimated wealth to between $1.32 trillion and $1.45 trillion depending on the index.
Shares of SpaceX are now trading around $156, a decline of more than 30% from their mid-June peak, as investor sentiment shifts and the company faces intensifying scrutiny over its financial fundamentals. SpaceX reported a $4.9 billion loss in 2025, with its AI division spending $12.7 billion on capital costs.
A single-day decline of 16% on June 22 alone erased an estimated $240 billion from Musk’s net worth. Tesla shares fell nearly 6% the following day. Musk owns approximately 12% of Tesla.
This week’s selloff was not limited to Musk — tech stocks across the board came under pressure as investors reassessed risk, and companies that have benefited most from the AI trade were among the hardest hit, including Alphabet and semiconductor names such as Samsung. Concerns over capital spending, AI infrastructure costs, and stubborn interest rates compounded the pressure on high-flying growth names including Nvidia, Intel, and AMD.
The concentration of Musk’s wealth makes his net worth uniquely susceptible to market swings. SpaceX alone accounts for nearly 80% of his total fortune, with Tesla making up most of the
Despite the reversal, Musk remains the world’s wealthiest individual by a wide margin — and the scale of the selloff, dramatic as it is, may prove to be little more than turbulence on a longer trajectory.
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