A few weeks after making history as the world’s first trillionaire, Elon Musk is no longer carrying that distinction on paper.
The billionaire entrepreneur’s estimated fortune has fallen to roughly $957 billion following a turbulent stretch for two of the companies most closely tied to his wealth, SpaceX and Tesla. Musk had crossed the trillion-dollar threshold earlier this month after SpaceX’s landmark public offering fueled a dramatic surge in his net worth.
The celebration did not last long.
A sharp sell-off across the technology sector sent shockwaves through the market, wiping away an estimated $240 billion from Musk’s fortune in just one week. The biggest hit came from SpaceX, whose stock suffered a stunning 16% decline in a single trading session. Tesla shares also moved lower, dropping nearly 6% during the same period and adding to the erosion of Musk’s paper wealth.
Market analysts point to growing investor concerns surrounding the long-term profitability of artificial intelligence ventures, along with broader weakness across technology stocks, as key drivers behind the pullback. As sentiment cooled, valuations across the sector came under pressure, dragging down some of the market’s most valuable companies.
Even with the decline, Musk remains comfortably ahead of every other billionaire on the planet. His fortune still sits hundreds of billions of dollars above the world’s next-richest individuals, preserving his position at the top of the global wealth rankings.
Pinpointing Musk’s exact net worth remains a moving target, however. Different financial trackers use separate methodologies when calculating billionaire wealth, particularly when it comes to stock ownership and restricted shares.
The Bloomberg Billionaires Index currently estimates Musk’s fortune at approximately $957 billion. Forbes places the figure slightly higher at around $970 billion. The publication’s calculation excludes roughly $116 billion worth of restricted Tesla shares because those holdings have not yet vested and therefore cannot currently be sold.
While the trillionaire title may be on pause for now, the latest downturn highlights how closely Musk’s wealth remains tied to the performance of the companies he helped build. A strong rebound in either SpaceX or Tesla could quickly put the historic milestone back within reach.
