Elon Musk Loses Trillionaire Status After Massive Drop in Tesla and SpaceX Value

• Elon Musk's net worth has fallen from more than $1 trillion to about $957 billion following sharp declines in SpaceX and Tesla share prices
• SpaceX shares dropped more than 30% from their recent peak, while broader concerns about technology and AI valuations weighed on investor sentiment
• Although Musk is no longer a trillionaire, he remains the world's richest person and believes future AI advancements could make money less important

Elon Musk is no longer a trillionaire after a sharp decline in the value of his companies wiped billions from his personal fortune during a global stock market sell-off. The world's richest person briefly crossed the $1 trillion mark earlier in June 2026 following the highly anticipated initial public offering (IPO) of SpaceX, which pushed the company's valuation above $2 trillion.

However, new figures show that Musk's net worth has since fallen to approximately $957 billion. Much of the drop in Musk's fortune has been linked to a steep fall in SpaceX shares. After reaching an intraday high of around $225 on 16 June, the stock fell to approximately $156 by 23 June, representing a decline of more than 30% in just over a week.

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Despite the losses, SpaceX remains Musk's most valuable asset. His stake in the company is still estimated to be worth around $744 billion, accounting for nearly 80% of his overall wealth. Analysts have suggested that investors are becoming increasingly cautious about technology and artificial intelligence companies, leading to pressure on some of the market's highest-valued stocks.

Tesla also contributes to wealth decline

Tesla shares also came under pressure during the broader market sell-off, further reducing Musk's net worth. His stake in the electric vehicle manufacturer is estimated to be worth roughly $158 billion.

The decline comes amid growing concerns among investors about whether some technology companies have become overvalued following rapid growth in recent years. Rising interest rate fears and concerns about a potential AI investment bubble have also contributed to volatility in technology stocks.

Questions raised about SpaceX valuation

Recent financial disclosures have also sparked debate about SpaceX's enormous valuation. The company reportedly disclosed losses of approximately $4.9 billion during 2025 while investing heavily in future projects and infrastructure.

SpaceX also spent billions on capital expenditure as it continued developing new technologies and expanding operations. Some market observers have questioned whether the company deserves a valuation exceeding $2 trillion when many of its largest projects remain years away from commercial maturity.

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3 Other Briefly News stories about Elon Musk

• Errol Musk makes controversial remarks during a viral interview, speaking about his son, apartheid, and Nelson Mandela .
• Controversial businessman Elon Musk sparked a debate on social media on Friday, 3 April 2026, after he slammed the BEE Act.
• SpaceX has elected long-time Sequoia Capital investor Roelof Botha to its board as an independent director and audit committee member.

Source: Briefly News