Elon Musk has fallen below the trillionaire threshold after a sharp decline in the value of his holdings in SpaceX and Tesla, according to the Bloomberg Billionaires Index. His net worth is estimated at approximately $957 billion, down from around $1.1 trillion earlier this month.
Musk became the world’s first trillionaire in June following the highly anticipated IPO of SpaceX, which significantly boosted the value of his stake in the rocket and satellite company. The listing pushed his fortune past the $1 trillion mark, a milestone never before reached by an individual.
However, media reports suggest that recent market volatility has weighed heavily on SpaceX shares. The stock fell sharply in recent trading sessions, with a 16% decline wiping out hundreds of billions of dollars in market value before recovering modestly. Shares closed at around $156 after a four-day selloff, while Tesla stock also came under pressure, falling nearly 6% in a single session.
The combined impact of the declines has significantly reduced Musk’s paper wealth, underscoring how closely his fortune remains tied to the performance of SpaceX and Tesla. Despite the drop, Musk continues to be the world’s wealthiest individual by a substantial margin.
The reversal comes less than two weeks after SpaceX’s public market debut propelled Musk into the history books as the first person to accumulate a trillion-dollar fortune, driven largely by the soaring valuation of SpaceX and his existing stake in Tesla.
