NEW YORK — 25 June 2026, Elon Musk has lost his status as the world’s first trillionaire after sharp declines in the share prices of SpaceX and Tesla erased more than $150 billion from his fortune, according to the Bloomberg Billionaires Index.
Bloomberg’s daily wealth ranking, updated at 17:30 New York time, showed that Musk’s net worth fell to $957 billion on 23 June, down from $1.11 trillion less than two weeks earlier.
The drop came after heavy losses in SpaceX and Tesla shares amid a broader sell-off in technology stocks, as investors increasingly questioned the long-term profitability of artificial intelligence (AI) investments.
Despite losing his trillionaire status, Musk remains the richest person in the world, maintaining a significant lead over the second-richest billionaire.
Musk made history on 12 June 2026 when SpaceX debuted on the Nasdaq stock exchange in a highly anticipated public offering. The company’s initial public offering (IPO) was priced at $135 per share, while the stock opened at $150 per share on its first trading day.
The listing pushed the rocket and satellite giant’s market value above $1.77 trillion. With Musk owning about 42% of the company, his paper wealth immediately surpassed the $1 trillion mark.
Investor enthusiasm continued to drive the stock higher, with SpaceX shares reaching a record $225.64 per share on 16 June, lifting Musk’s net worth to an estimated $1.32 trillion, its highest level on record.
However, the rally proved short-lived. Concerns over rising capital expenditures, growing AI infrastructure costs and persistently high interest rates triggered a broad technology-sector sell-off, affecting major firms including Nvidia, Intel and AMD.
SpaceX shares were among the hardest hit, plunging more than 30% from their mid-June peak to around $156 per share.
On 22 June, a particularly volatile trading session saw SpaceX shares tumble 16% in a single day, wiping an estimated $240 billion from Musk’s fortune.
Meanwhile, Tesla shares fell nearly 6% the following day, adding to the losses. Musk owns approximately 12% of Tesla’s outstanding shares.
Market analysts said post-IPO volatility is common for high-value companies, but the scale of the swings highlights the tension between lofty investor expectations and business realities.
Musk’s trillionaire status is especially vulnerable because his wealth is concentrated in a small number of assets. Nearly all of his fortune is tied to just two companies — SpaceX, which accounts for almost 80% of his wealth, and Tesla.
Analysts noted that a recovery of only about 6% in SpaceX shares from current levels would be enough to push Musk’s net worth back above the $1 trillion threshold.
