Elon Musk, the world’s richest person, is no longer a trillionaire after a sharp decline in the value of SpaceX and Tesla shares, according to Forbes estimates.
Earlier this month, Musk briefly crossed the symbolic trillion-dollar threshold following a surge in the valuation of SpaceX after a landmark public offering. However, that milestone proved short-lived.
(Photo: SpaceX PATRICK PLEUL \ AFP)
Since then, shares linked to SpaceX have fallen significantly, while Tesla stock — another major component of Musk’s wealth — has also declined, pulling his overall fortune down.
According to Forbes, Musk’s net worth currently stands at approximately $970 billion.
The drop comes amid broader volatility in technology markets, with investor concerns over potential interest rate hikes by the U.S. Federal Reserve and fears of an emerging “AI bubble” weighing on high-growth tech stocks.
Companies closely tied to the artificial intelligence boom, including Alphabet and major semiconductor manufacturers such as Samsung, have also seen pressure on their valuations.
SpaceX’s recent market debut, which was described as one of the largest in history, initially boosted Musk’s wealth dramatically. The company reportedly raised around $75 billion in the offering, with its shares jumping 19% in early trading before later easing to around $154 per share.
Despite the decline, Musk remains by far the world’s richest individual. The next closest billionaire, Google co-founder Larry Page, has an estimated net worth of about $284 billion.
Musk’s wealth is largely tied to equity holdings rather than liquid assets, making it highly sensitive to market fluctuations. Analysts note that such volatility means his trillionaire status could return quickly if Tesla or SpaceX shares rebound.
Even after the recent drop, Musk’s wealth has grown dramatically over the past year, underscoring the extreme speed at which his fortune has expanded amid the ongoing tech and AI-driven market cycle.