Elon Musk has slipped out of the trillionaire club after a broad market selloff hit SpaceX and Tesla, cutting his fortune to $957 billion, according to Bloomberg’s billionaires index. He is still the world’s richest person, but the headline-grabbing milestone vanished almost as quickly as it arrived.
The SpaceX and Tesla selloff is a reminder that billionaire rankings are only as sturdy as the market’s mood. Tech names have been wobbling on fears of an AI bubble and the prospect of higher interest rates, and when the biggest holdings are priced for perfection, the drop can be brutal.
SpaceX shares cool after a hot debut
Musk had reached the trillionaire mark earlier in the month, when SpaceX went public in an IPO that valued the company at more than $2 trillion. Retail demand initially pushed the stock higher, but by Tuesday it had closed at about $156, down 30% from the intraday peak of $225 on June 16, though still above the $150 offer price from June 12.
That kind of swing is impressive even by Silicon Valley standards. It also shows how quickly a frothy debut can lose its shine once the first wave of buyers meets a more skeptical market.
The numbers behind Musk’s wealth
SpaceX remains Musk’s biggest asset by a huge margin, valued at $744 billion and making up almost 80% of his wealth. Tesla still matters, but far less than before: his stake is worth $158 billion, and it was caught in the same selloff.
- Current Musk fortune: $957 billion
- SpaceX stake: $744 billion
- Tesla stake: $158 billion
SpaceX valuation is already under strain
Some of the unease predates the stock slump. In the S-1 filed before the IPO, SpaceX disclosed a $4.9 billion loss in 2025, while capital spending at its money-losing AI unit reached $12.7 billion. That is a lot of cash for a company still selling a future that includes data centers in space and people on Mars.
Musk still has a ridiculous cushion over the field. Bloomberg puts Larry Page about $660 billion behind him, a gap larger than more than two Jeff Bezos fortunes. The real question is whether SpaceX can keep its valuation sky-high long enough for Musk’s paper riches to reclaim their trillion-dollar bragging rights.