Elon Musk has lost his trillionaire status after a sharp decline in SpaceX shares cut nearly $100 billion from his fortune.
According to Bloomberg's Billionaires Index, Musk's net worth fell to about $957 billion as SpaceX stock dropped more than 30% from its post-IPO peak. The world's richest person had crossed the $1 trillion mark earlier this month after SpaceX's blockbuster public debut valued the company at over $2 trillion.
The sell-off comes amid broader weakness across technology stocks, driven by concerns about AI valuations and rising interest rates. Investors have also begun questioning SpaceX's lofty valuation and ambitious projects, including plans for space-based data centers and missions to Mars.
SpaceX's IPO filing revealed the company lost $4.9 billion in 2025, while its AI division spent $12.7 billion on capital expenditures. The upcoming expiration of the IPO lockup period is also being closely watched, as early investors will soon be able to sell shares.
Despite the decline, SpaceX remains Musk's largest asset, accounting for nearly 80% of his wealth. He still holds a massive lead over the world's second-richest person, with a fortune hundreds of billions of dollars larger than his closest rival.