Elon Musk loses trillionaire status this week after sharp declines in SpaceX and Tesla shares cut deeply into his fortune, less than two weeks after he first crossed the trillion-dollar mark.
Forbes put his net worth at $970.2 billion as of Wednesday’s market close, while Bloomberg’s Billionaires Index listed it at $957 billion a day earlier. Either figure puts him below the threshold he briefly held.
Musk reached trillionaire status on June 12, the day SpaceX went public. Shares were priced at $135 and opened near $150, then climbed sharply in the days that followed.
By June 16, the stock had surged about 40% to roughly $225, lifting Musk’s wealth to an estimated peak between $1.32 trillion and $1.45 trillion, depending on the source. Musk holds about 42% of SpaceX.
Musk loses trillionaire status as tech stocks tumble
The rally reversed this week as a broader sell-off hit technology stocks. Investors grew anxious over a possible Federal Reserve rate increase and renewed doubts about whether spending on artificial intelligence has outpaced its returns. Alphabet, Samsung, Nvidia, Intel, and AMD also posted losses.
NEW: Elon Musk is no longer a trillionaire. pic.twitter.com/z2VvV1qPvm
— Valuetainment (@valuetainment) June 24, 2026
SpaceX shares fell more than 30% from their June 16 high, dropping to around $156. 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 next day. Musk owns about 12% of Tesla.
The drop loses Musk his trillionaire status partly because of a separate move last week, when he gave up $7.1 billion in Tesla stock to cover the cost of exercising options from his 2018 pay package.
A Delaware judge voided that package in 2024, and the state’s Supreme Court restored it in 2025. Under a new agreement reached in April, the shares convert to restricted stock that Musk forfeits unless he remains at Tesla in a senior role through January 2028.
Forbes excluded roughly $116 billion in those unvested shares, an 8% stake, from its calculation.
Musk remains the world’s richest person
Musk remains the world’s richest person by a wide margin. Google co-founder Larry Page ranks second, with an estimated $284 billion, putting the gap between them above $660 billion. Musk’s fortune has grown by about $338 billion since January alone.
AJ Bell financial analyst Danni Hewson said that early investor enthusiasm in SpaceX appeared driven more by emotion than careful judgment, and that investing in large sums calls for patience rather than reaction to dramatic swings.
SpaceX reported a $4.9 billion loss in 2025, with its AI division spending $12.7 billion on capital costs. A lockup period preventing insiders from selling shares is set to expire in late July, which could add further pressure on the stock.
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