Elon Musk Loses Trillionaire Status as SpaceX Shares Decline

Elon Musk, the chief executive officer of Tesla and SpaceX, has fallen below the trillion‑dollar threshold after a sharp drop in SpaceX share prices.

Bloomberg’s Billionaires Index reported Musk’s net worth at $946 billion as of yesterday, a decline from the value above $1 trillion that was recorded on June 12 after SpaceX’s IPO.

Musk became the world’s first trillionaire when SpaceX went public, propelling his fortune from $707 billion to over $1.1 trillion in the days following the company’s debut.

Less than two weeks later, a sustained fall in SpaceX shares erased several hundred billion dollars from his net worth.

Forbes noted that Musk’s net worth dropped from $1.45 trillion to just below $1.1 trillion after SpaceX shares fell almost 30 percent from their June 16 peak.

SpaceX shares surged up to 67 percent in their first three trading days after the record‑breaking IPO, which valued the company at over $1.8 trillion.

Since then, the stock has declined for three straight trading sessions, erasing roughly $928 billion in market value as it fell from a peak of $2.9 trillion to about $2 trillion.

Musk’s wealth is largely linked to his 38 percent stake in SpaceX, his 11 percent holding in Tesla, and other investments.

The decline accelerated on Monday when SpaceX shares dropped 16.4 percent after the company announced plans for its first investment‑grade bond offering, intended to raise at least $20 billion for its artificial‑intelligence projects.

According to TheCable, SpaceX shares traded at roughly $155 on Thursday, a sharp decline from the post‑IPO peak of $225.64, yet still above the company’s $135 listing price.