Elon Musk is no longer the world’s first trillionaire after a sharp decline in technology stocks reduced the value of his holdings in SpaceX and Tesla. The drop came less than two weeks after he became the first person to reach a paper net worth of $1 trillion following SpaceX’s historic public market debut.
Elon Musk loses trillionaire status after market decline
Bloomberg’s Billionaires Index now estimates Musk’s fortune at about $946 billion, while Forbes places it at roughly $941 billion. The decline follows a steep fall in SpaceX shares from their post-IPO highs, along with continued weakness in Tesla stock.
SpaceX has been the biggest driver of Musk’s wealth in recent weeks. After the company’s public listing, its strong market performance briefly pushed his fortune well above the trillion-dollar mark. However, the stock later gave back a large part of those gains, pulling Musk’s net worth below the milestone.
Widespread tech selloff hit billionaire fortunes
The decline was not limited to Musk. A broader selloff across technology stocks affected many of the world’s richest people as investors reacted to concerns about high valuations and the outlook for AI-related companies.
Several major technology billionaires also saw billions erased from their paper wealth during the market downturn. Despite the losses, Musk remains the richest person in the world by a wide margin.
Most of Musk’s wealth remains tied to company shares
Much of Musk’s fortune exists on paper because it is based on the market value of his ownership stakes rather than cash.
According to Bloomberg, his largest asset remains his SpaceX holdings, while Tesla continues to represent another significant portion of his net worth. Smaller investments in companies such as Neuralink and The Boring Company also contribute to his overall fortune. Because these assets are closely linked to stock prices, his net worth can change dramatically as markets rise or fall.
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The trillionaire title lasted only a short time
Musk became the world’s first trillionaire on June 12, 2026, after SpaceX’s stock market debut lifted his wealth above the historic threshold. During the following days, his estimated fortune briefly climbed even higher before the market reversed.
The recent correction has pushed his estimated wealth back below $1 trillion, ending what turned out to be a brief stay above the milestone. Market movements could still change his ranking again in the future, as most of his wealth remains tied to publicly traded shares.
The world’s richest individuals continue to see their fortunes rise and fall rapidly as technology stocks experience large swings in market value.
