Elon Musk Loses Trillionaire Status 2 Weeks After Gaining It As SpaceX Shares Tumble

Last Updated:June 25, 2026, 14:27 IST

Tech entrepreneur, Elon Musk, has lost his trillionaire status in two weeks after gaining it. His losses are mainly due to the market corrections following rally after SpaceX's IPO

Elon Musk has lost his trillionaire status on Tuesday just days after getting it. According to Forbes’ Real-Time Billionaires List, Musk’s net worth has fallen to US$951.8 billion from the peak of US$1.32 trillion.

Musk, in fact, was the first human ever to have achieved this level of wealth concentration. There are so many countries that do not come near to this much in annual GDP.

In spite of the fall from the high of over trillion dollars in net worth, he remains the richest person of Earth. The fall in his worth is due to the sharp decline in SpaceX and Tesla shares.

Shares of technology companies more broadly have been falling lately over doubts on the long-term profitability of Artificial Intelligence being voiced more frequently and from hitherto optimistic quarters.

Musk had breached the trillion dollar threshold fourteen days ago. The wealth of his nearest rivals still dwarfs in comparison.

Larry Page and Sergey Brin, computer scientists and founders of Google, are worth US$283.3 billion and US$261.4 billion respectively. Page holds the second richest person’s position and Brin holds the third.

When Musk’s space agency SpaceX made its debut on the Nasdaq exchange on June 12th, he made history. The company’s initial public offering (IPO) was priced at $135 for each share and it began trading at $150.

The soaring enthusiasm of investors pushed the value of SpaceX’s shares to $225.64 mark by June 16th. However, on the day of its debut on the technology-dominated exchange itself, the rocket and satellite giant was valued at more than US$1.77 trillion.

Since Musk owns around 42 percent of SpaceX’s shares, this listing sent his net worth soaring past the 1-trillion mark that same day. On June 16, when the share value reached $225, Musk’s net worth peaked at US$1.32 trillion.

The upward trajectory of the market was short-lived though. As doubts over increased capital expenditure, cost of infrastructure needed for AI, persistently high interest rates, and monetisation potential of AI rose, investors started shedding off.

Technology giants like Nvidia, Intel, and AMD were hit particularly hard. These companies make semiconductor chips and microprocessors.

However, loss of value for SpaceX’s shares was sharp. From the peak of $225 to $156, the company lost 30 percent over this period.

Musk’s personal wealth got reduced by a whopping $240 billion in one day, June 22nd. SpaceX shares lost 16 percent in that one day and he is still the richest human.

All this wealth, while the poorest people on Earth have not yet recovered from the shocks they experienced during the COVID-19 pandemic, found a report by the World Bank in 2022.

“The poorest 20 percent globally have not fully recovered their income losses, while the top 20 percent globally have already more than recovered their initial income loss in 2021," the report, titled ‘Poverty and Shared Prosperity 2022’, stated.

Inequality has been the highest ever since the World War II after the pandemic, as noted by the report.

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