Elon Musk has temporarily lost his “trillionaire” status after SpaceX and Tesla shares posted sharp declines this week.
Data from Bloomberg’s daily billionaires index show that his net worth has fallen to around $957 billion, compared with the higher levels it had reached earlier this month.
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Musk briefly became the first person in the world to surpass the $1 trillion mark after SpaceX’s stock market debut. At that point, the company’s value temporarily climbed above $2 trillion, pushing his fortune above $1.1 trillion.
However, SpaceX shares have been volatile, and the company has lost a significant portion of its previous gains. The decline has also been affected by low trading volume, which has caused sharp price movements.
At the same time, Tesla shares have fallen by nearly 5.8%, amid broader pressure on the technology sector, as investors reassess market valuations due to expectations of higher interest rates in the United States.
Despite this contraction, Elon Musk remains the richest person in the world. He is followed by Google co-founders Larry Page and Sergey Brin, as well as Amazon founder Jeff Bezos.
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