Elon Musk's net worth falls below $1 trillion as SpaceX stock slides

Elon Musk is no longer a trillionaire after Tesla and SpaceX shares plunged during Tuesday's global sell-off. His net worth stood at $957 billion on Bloomberg's Billionaires Index, and he remains the world's richest person. SpaceX was valued at more than $2 trillion when its IPO priced earlier this month, and the stock rallied for days as retail investors piled in.

This week the shares fell sharply, closing around $156 on Tuesday — more than 30% below an intraday peak of $225 on June 16, though still above the $150 at which shares began trading on June 12. Tech stocks have been hit amid fears of an AI bubble and a possible interest rate increase.

Some analysts have questioned SpaceX's valuation and moonshot plans, from data centers in space to putting humans on Mars, and the coming end of the lockup period will be a major test. SpaceX's S-1 filing showed a $4.9 billion loss in 2025, with its money-losing AI segment accounting for $12.7 billion in capital expenditures.

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