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FinanceElon Musk loses trillionaire status as SpaceX stock falls
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Elon Musk's net worth has fallen below $1 trillion to $957 billion, according to the Bloomberg Billionaires Index, after a broad market selloff hit both SpaceX and Tesla stock. SpaceX shares declined over 30% from a June 16 intraday high of $225, closing near $156. A 16% single-day drop on Monday erased roughly $240 billion from Musk's fortune. SpaceX debuted on June 12 at a valuation above $2 trillion, briefly making Musk a trillionaire. Tesla stock fell an additional 5.8% on Tuesday. Concerns about an AI bubble and rising interest rates have weighed on tech stocks. Skeptics question SpaceX's valuation given ambitious plans and a $4.9 billion deficit in 2025, with its AI division burning $12.7 billion. Despite the decline, Musk's fortune still far exceeds that of the second-richest person, Google's Larry Page ($297 billion). The upcoming lifting of lock-up restrictions for early investors and employees is seen as a key test of market confidence.
Source report
Source: Quartz Author: Cris Tolomia Reading time: 2 min
Elon Musk is no longer a trillionaire. According to the Bloomberg Billionaires Index, his fortune now stands at $957 billion, reflecting steep declines in both SpaceX and Tesla shares amid a broad market selloff.
By Tuesday's close, SpaceX shares had settled near $156 — a drop of more than 30% from the intraday high of $225 reached on June 16. A single-day plunge of 16% on Monday erased roughly $240 billion from Musk's wealth, per Barron's. Tesla stock fell an additional 5.8% on Tuesday, compounding the losses.
The $150 opening price from SpaceX's June 12 debut remains below the current trading level. The selloff was sufficient to cost Musk the trillionaire status he achieved when SpaceX went public earlier this month at a valuation exceeding $2 trillion.
SpaceX remains Musk's most valuable asset. As of Tuesday, his SpaceX stake was valued at $744 billion — nearly 80% of his total wealth. His Tesla holdings, worth $158 billion, have also been affected by the broader downturn.
Key Factors Behind the Decline
- AI bubble concerns and rising interest rates have weighed on technology stocks in recent days.
- Analysts have questioned whether SpaceX's valuation is justified, with skeptics pointing to ambitious plans ranging from orbital data centers to Mars colonization, according to Business Insider.
- Regulatory filings before the IPO disclosed that SpaceX ran a $4.9 billion deficit in 2025, and its AI division alone spent $12.7 billion in capital expenditures.
A significant test of market confidence lies ahead: early investors and employees will soon be free to sell their shares.
Still Far Ahead
Despite the decline, Musk's fortune remains vastly larger than that of the world's second-richest person. Google co-founder Larry Page trails by roughly $660 billion, with a net worth of $297 billion — a gap greater than twice Jeff Bezos's entire wealth, according to the Bloomberg Billionaires Index. The $338 billion Musk has added to his fortune in 2026 alone exceeds the total net worth of the second-richest person.
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Yahoo FinanceWestern
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Elon Musk Becomes World's First Trillionaire After SpaceX IPO