Elon Musk’s personal fortune dropped to $957 billion on Tuesday, according to the Bloomberg Billionaires Index, ending a brief spell as the world’s first trillionaire. The decline represents a loss of more than $360 billion in less than two weeks.
Musk first breached the $1 trillion threshold on 12 June when SpaceX listed on the Nasdaq. The IPO was priced at $135 per share and opened at $150, valuing the rocket and satellite firm at over $1.77 trillion. Because Musk holds roughly 42 % of SpaceX, the flotation instantly pushed his net worth into the 13‑figure range.
By 16 June SpaceX shares had risen to $225.64, lifting Musk’s wealth to a peak of $1.32 trillion. A broader correction in technology stocks then set in, driven by concerns over artificial‑intelligence infrastructure spending, rising capital costs and persistently high interest rates. Chipmakers such as Nvidia, Intel and AMD were hit, but SpaceX suffered the steepest fall.
On 22 June SpaceX stock slumped 16 %, erasing an estimated $240 billion from Musk’s balance sheet in a single session. The following day Tesla shares fell almost 6 %; Musk’s stake in the electric‑vehicle maker is about 12 %.
SpaceX is now trading around $156, more than 30 % below its mid‑June high. Analysts estimate the company accounts for close to 80 % of Musk’s total net worth, with Tesla comprising most of the remainder.
Market watchers note that a modest 6 % rebound in SpaceX shares would restore Musk’s trillion‑dollar status, potentially making him the first recurring trillionaire. However, selling pressure could continue as lock‑up restrictions are due to expire in late July, allowing insiders to begin off‑loading shares in stages.
SpaceX remains one of the most closely monitored listings, with investors keen to see whether post‑IPO enthusiasm can survive the realities of profit‑and‑loss dynamics.
First reported by Bloomberg Billionaires Index.