Elon Musk loses trillionaire status as SpaceX shares plunge

Elon Musk became the world’s first trillionaire when SpaceX’s initial public offering pushed his net worth above $1 trillion, a level that briefly reached $1.45 trillion after the stock surged to $225.64. Within days, SpaceX shares fell about 31% to roughly $156, erasing the gains.

The decline, combined with Musk’s sale of Tesla stock worth $71 billion to fund tax obligations and the exclusion of about $1.16 billion of unvested Tesla stock options from his assets, brought his net worth down to $962 billion, slipping back below the trillion‑dollar mark. Protests outside JPMorgan in New York also highlighted criticism of extreme wealth and calls for financial reforms.