Antonio Griffin
Elon Musk's net worth has fallen below $1 trillion after steep declines in both SpaceX and Tesla shares wiped out his trillionaire status. The Bloomberg Billionaires Index now places his fortune at $957 billion, reflecting a bruising stretch for tech stocks driven by AI bubble fears and rising interest rates.
At a Glance
- Musk's fortune dropped to $957 billion, ending his trillionaire status
- SpaceX shares fell more than 30% from their June 16 intraday peak of $225
- A single day on Monday erased roughly $240 billion from Musk's wealth
- SpaceX accounts for about 80% of Musk's total fortune, valued at $744 billion
- Larry Page, the next wealthiest person on Bloomberg's index, sits at $297 billion
A SpaceX Selloff Does Most of the Damage
SpaceX went public earlier this month at a valuation above $2 trillion, instantly making it one of the most valuable companies on any exchange. The debut price was $150 on June 12, and shares climbed as high as $225 intraday on June 16 before the selling began. By Tuesday's close they had retreated to around $156, a decline of more than 30% from that peak.
Monday's single session was particularly severe. Shares dropped 16% in one day, a move that Barron's calculated erased approximately $240 billion from Musk's net worth. Tesla added to the pain, falling another 5.8% on Tuesday. Because SpaceX represents close to 80% of Musk's wealth at a current valuation of $744 billion, even modest percentage moves in the stock translate into enormous dollar swings for his personal balance sheet.
What Spooked Investors
Broader anxiety about an AI spending bubble has weighed on technology stocks over the past several days, and SpaceX attracted specific scrutiny. Analysts began questioning whether the company's IPO valuation was justified given the ambition of its stated plans, which include orbital data centers and eventual Mars colonization.
Regulatory filings released before the IPO gave skeptics more to chew on. SpaceX posted a $4.9 billion deficit in 2025, and its AI division alone consumed $12.7 billion in capital expenditure. Rising interest rates compound the pressure on any company trading at a premium to near term earnings, and SpaceX is trading at an enormous one.
A looming deadline matters too. Early investors and employees will soon be free to sell their shares once the standard lockup period expires. How the stock holds up through that window will tell the market a great deal about conviction in the current price.
Still Untouchable at the Top
Dropping below $1 trillion sounds dramatic, and the absolute number is real. But the gap between Musk and everyone else on the wealth rankings remains staggering. Google co-founder Larry Page, the person closest to him, is worth $297 billion. That puts Musk ahead by roughly $660 billion, a margin that is more than twice Jeff Bezos's entire net worth.
Musk has also added $338 billion to his fortune in 2026 alone. That single year's gain exceeds the total wealth of the world's second-richest person, which underscores just how concentrated the gains from SpaceX's IPO have been, even after this week's correction.
Frequently Asked Questions
Why did Elon Musk lose his trillionaire status?
SpaceX shares fell more than 30% from their June 16 peak, and Tesla slid further on Tuesday. Because SpaceX makes up roughly 80% of Musk's wealth, the combined declines pushed the Bloomberg Billionaires Index estimate of his fortune below $1 trillion to $957 billion.
What is SpaceX worth after the selloff?
Musk's SpaceX position was valued at approximately $744 billion as of Tuesday. The company went public earlier in June at a valuation exceeding $2 trillion, so the stock remains well above its $150 IPO price despite the recent pullback.
How much did SpaceX lose in 2025?
Filings with regulators show SpaceX ran a $4.9 billion deficit in 2025. Its AI division alone spent $12.7 billion in capital, which analysts have cited as a reason to question the company's current valuation.
Who is the second-richest person in the world?
According to the Bloomberg Billionaires Index, Google co-founder Larry Page is the closest rival to Musk with a fortune of $297 billion, trailing Musk by around $660 billion.
What to Watch Next
The lockup expiry for SpaceX early shareholders is the clearest near term test. If the stock holds or recovers once insiders are free to sell, it would signal genuine market confidence in the valuation. A fresh wave of selling would put more pressure on Musk's fortune and renew the debate about whether the IPO priced SpaceX at levels the market is prepared to sustain.
