Elon Musk Loses Trillionaire Status as Net Worth Plummets to $957 Billion

Elon Musk has relinquished his brief reign as the world’s first trillionaire after a sharp decline in SpaceX shares erased hundreds of billions from his fortune.

According to real-time billionaire rankings and market data, Musk’s net worth has fallen to approximately $957 billion amid a post-IPO sell-off in his rocket and satellite company, which began trading on Nasdaq as SPCX earlier this month.

SpaceX debuted on June 12 at $150 per share following a record-breaking IPO priced at $135, briefly pushing its valuation near $3 trillion and catapulting Musk’s wealth above $1.1 trillion. However, the stock has since plunged more than 30% from its peak, with a steep 16% drop on Monday alone that wiped out roughly $400–600 billion in market value over several trading sessions.

The decline reflects cooling investor enthusiasm after the initial hype, broader tech sector weakness, concerns over the company’s high valuation relative to current revenue and profitability, and anticipation of future share lockup expirations.Musk holds roughly a 41–42% stake in SpaceX, which forms the bulk of his wealth alongside his Tesla holdings. The stock’s retreat has trimmed hundreds of billions from his personal fortune in a matter of days.

Despite the setback, Musk remains the world’s richest individual by a significant margin. SpaceX continues to dominate the commercial space sector with Starlink expansion and reusable rocket technology, while some analysts view the current dip as a potential buying opportunity.

This marks a volatile chapter for the newly public company, which raised $75 billion in its historic IPO but now faces the realities of public market scrutiny.