Elon Musk has lost his trillionaire status after a significant drop in SpaceX’s stock value. Despite still being the world’s richest person, his net worth has decreased to approximately $957 billion, according to the Bloomberg Billionaires Index. Musk initially reached trillionaire status earlier this month following SpaceX’s historic initial public offering (IPO), which valued the company at over $2 trillion.
The IPO, which launched on June 12, saw SpaceX shares open at $150 and rally to an intraday peak of $225. However, recent market fluctuations have caused the stock to plummet by over 30%, closing around $156 on Tuesday (June 23). Business Insider reports that the decline in SpaceX’s stock is part of a broader tech sell-off amid concerns over an AI bubble and rising interest rates.
Musk’s wealth is heavily tied to SpaceX, with his shares in the company valued at $744 billion, accounting for nearly 80% of his net worth. His stake in Tesla, valued at $158 billion, has also been affected by the market downturn. Despite these challenges, Musk’s fortune remains significantly higher than that of the second-richest person, Larry Page, who has a net worth of $297 billion.
Fortune notes that the expiration of SpaceX’s lockup period, when early investors can sell their shares, will be a critical test for the company’s stock stability. Analysts continue to debate SpaceX’s valuation, especially after the company’s $4.9 billion loss in 2025.
While Musk’s status as a trillionaire was short-lived, the potential for SpaceX to rebound remains. Market watchers will closely monitor the company’s performance as it navigates these challenges.
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