Elon Musk has lost his trillionaire status due to the significant decline in shares of SpaceX and Tesla during the wave of selling that swept global markets on Tuesday.
According to the Bloomberg Billionaires Index, Musk's net worth has fallen to about $957 billion, pushing him away from the trillion-dollar threshold he reached just a few weeks ago.
Musk became a trillionaire earlier this month, shortly after SpaceX's initial public offering (IPO) valued the space company at more than $2 trillion.
However, the initial optimism has faded this week. SpaceX shares closed Tuesday at around $156, down more than 30 percent from their high of $225 on June 16. Despite the decline, the price remains above the $150 level at which the shares debuted on the stock exchange on June 12.
Documents released before the IPO showed that SpaceX recorded losses of $4.9 billion through 2025, while its artificial intelligence segment spent $12.7 billion in capital investments.
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Elon Musk becomes the world's first trillionaire
Despite the latest blow, SpaceX remains Musk's most valuable asset. His stake in the company is valued at about $744 billion and accounts for about 80 percent of his total wealth. Meanwhile, his stake in Tesla, valued at about $158 billion, has also been affected by the market decline.
However, Musk continues to remain the richest person in the world.
