Elon Musk falls below $1 trillion net worth as SpaceX and Tesla shares tumble

Elon Musk’s net worth slipped below the $1 trillion mark after sharp declines in SpaceX and Tesla stock prices. Bloomberg’s Billionaires Index valued his wealth at $957 billion on Tuesday, while Forbes estimated it at about $951 billion, down from a recent peak of more than $1.11 trillion that briefly made him the world’s first “dollar‑billionaire.”

The fall was driven mainly by a roughly 30 % drop in SpaceX shares since the company’s June 12 IPO, where Musk holds about 42 % of the firm, and a concurrent 6 % decline in Tesla shares. The combined effect erased over $40 billion from his holdings, including a single‑day loss of about $240 billion as the stocks plunged 16 % in one session. Despite the setback, Musk remains the wealthiest individual on Bloomberg’s list with around $946‑962 billion in assets, largely concentrated in his two companies.