Elon Musk is no longer a trillionaire, as a significant stock sell-off on Tuesday impacted the valuations of both Tesla and SpaceX. According to Bloomberg’s Billionaires Index, Musk’s net worth has fallen to $957 billion.
SpaceX Stock Decline
Musk had achieved trillionaire status earlier this month shortly after SpaceX’s initial public offering, which valued the rocket company at over $2 trillion. The stock initially saw several days of gains, driven by strong interest from retail investors drawn to the company’s ambitious future projects. However, SpaceX’s stock has since experienced a substantial downturn. On Tuesday, shares closed around $156, marking a decline of more than 30% from an intraday high of $225 reached on June 16. Despite this drop, the current price remains slightly above the $150 per share at which trading began on June 12.
Market Factors and Company Performance
The recent slump in tech stocks, including those of Musk’s companies, is attributed to broader market concerns, such as fears of an artificial intelligence bubble and anticipation of an interest rate increase. Analysts have also raised questions about SpaceX’s high valuation and its long-term objectives, which include establishing data centers in space and facilitating human missions to Mars. A key upcoming event that could further test the stock’s stability is the expiration of the lockup period, which will allow early investors and shareholders to sell their stakes.
Financial disclosures from SpaceX ahead of its IPO revealed that the company recorded a $4.9 billion loss in 2025. Furthermore, its AI segment, which is currently operating at a loss, incurred $12.7 billion in capital expenditures. Despite these financial challenges, SpaceX remains Musk’s most significant asset. As of Tuesday, his SpaceX shares were valued at $744 billion, accounting for nearly 80% of his total net worth, according to Bloomberg. His holdings in Tesla, valued at $158 billion, were also affected by the market downturn.
Net Worth Comparison
The report notes that market fluctuations are common, and a recovery in SpaceX’s stock performance could lead to a rebound in Musk’s net worth. Currently, Musk’s fortune significantly surpasses that of the second-richest individual, Google cofounder Larry Page. The difference between their net worths, approximately $660 billion, is stated to be equivalent to more than the combined wealth of two Jeff Bezoses.
Helene Elliott is the senior reporter for News Raise. She covers Science news. She also has a keen interest in photojournalism. Helene holds a nomination for the prestigious Red Smith Award. She is married to author Dennis D’Agostino, a former publicist with the New York Mets.
