Two weeks have passed since Elon Musk became the first person in the world with a net worth above $1 trillion, making him the first trillionaire in history. According to the Bloomberg Billionaires Index, however, as of June 24 Musk’s fortune stood at $957 billion, while Forbes put it at $962 billion. Both estimates agree on one point: his place in the trillion-dollar club is already a thing of the past.
It was June 12 when Elon Musk made history, after SpaceX debuted on the Nasdaq with an initial public offering (IPO) priced at $135 per share. The listing raised $85.7 billion in capital, giving the company a valuation of $1.77 trillion. Because Musk owns 42% of SpaceX, the market debut sent his personal net worth soaring, immediately pushing it past the $1 trillion mark.
Four days later, on June 16, the stock hit its peak at $225 per share and, according to estimates, Musk’s net worth was valued at between $1.32 trillion and $1.45 trillion. Since then, however, SpaceX has lost ground after the initial boom, shedding roughly 30% by midweek, with shares trading at $156 — close to the IPO price. This past Monday also brought a 16% single-day plunge that wiped $240 billion off Musk’s personal fortune.
SpaceX is today the largest space company in the world and one of the leading players in the commercial launch market. The firm revolutionized the sector by developing reusable rockets, sharply cutting the cost of space missions and redefining the economics of the aerospace industry. Over time it has also become a strategic partner of NASA.
Why Musk lost part of his fortune
Tesla also dealt further damage to the entrepreneur’s portfolio: shares of the electric-car maker fell nearly 6% in the following days. Musk owns roughly 12% of the company.
The reasons behind the slide in his tech companies’ share prices are tied to concerns over the cost of building artificial intelligence (AI) infrastructure, rising interest rates, and doubts about the long-term profitability of those investments. Even so, Elon Musk remains by far the richest man in the world. Still, the fact that about 80% of his wealth is concentrated in SpaceX makes him extremely vulnerable to market swings.
Second place belongs to Larry Page, with an estimated net worth of $296 billion, followed by Sergey Brin at $275 billion, Jeff Bezos at $257 billion, and Michael Dell at $223 billion.
Editor’s note
This article was originally published in Italian on money.it by Alessandro Nuzzo on June 27, 2026 as «Elon Musk non è più un triliardario». It has been translated and adapted for an international audience by the Money.it International desk.
