Elon Musk lost his status as the world’s first trillionaire on June 24. His net worth fell to approximately $957 billion.
The decline followed a sharp drop in SpaceX stock after its June 12 IPO. SpaceX shares reached a peak on June 16. Musk’s fortune hit a high of roughly $1.45 trillion during that peak.
SpaceX stock has since retreated over 30% from its high. A broader tech sell-off and concerns over an AI market bubble drove the decline. Tesla share prices also slid, further reducing his wealth. Musk remains the world’s richest person by a substantial margin.