Musk loses trillionaire status after SpaceX, Tesla sell-off

Elon Musk is no longer a trillionaire. Just days after becoming the first person to cross the $1 trillion net worth threshold, the world's richest person has seen his fortune fall back to $957 billion following a sharp decline in SpaceX and Tesla ↘ 1.80% shares, according to the Bloomberg Billionaires Index.Business Insider+2

A Fortnight at the Top

Musk first reached trillionaire status on June 12, 2026, propelled by SpaceX's blockbuster initial public offering on the Nasdaq, which valued the rocket company at more than $2 trillion. Retail investors rushed in, sending shares higher in the days that followed. At its peak, Musk's fortune reached approximately $1.32 trillion, according to Bloomberg.Mint+2

The reversal came swiftly. A broad sell-off in technology stocks, driven by concerns about an artificial intelligence-fueled market bubble and the prospect of higher interest rates, dragged down both SpaceX and Tesla shares. By June 24, Musk had shed roughly $363 billion in value over the span of about two weeks. SpaceX remains his most valuable holding, accounting for nearly 80 percent of his total wealth.Business Insider+3

Still the World's Richest Person

Despite the dramatic decline, Musk retains a commanding lead atop the global wealth rankings. Larry Page, co-founder of Alphabet ↗ 0.18%, is the next closest at approximately $284 billion, according to Forbes. The gap between Musk and his nearest peers remains larger than the entire fortunes of most billionaires on the list.The Guardian

The episode underscores the volatility inherent in wealth concentrated in a small number of high-growth stocks. As Livemint reported, "Musk's run as the world's first trillionaire has ended, just a fortnight after it began".Mint