Elon Musk is no longer a trillionaire: What's his net worth now?
Elon Musk is no longer a trillionaire. Bloomberg's Billionaires Index now estimates his fortune at roughly $957 billion after a global stock sell-off hammered SpaceX and Tesla shares. SpaceX alone shed more than $600 billion in market value across three trading sessions, ending a milestone he reached just days after the rocket maker's historic IPO.
Key Takeaways
- Bloomberg pegs Musk at about $957 billion, below the $1 trillion mark.
- SpaceX shares make up nearly 80% of his wealth and drove the latest drop.
- Musk became history's first trillionaire earlier this month after SpaceX's IPO.
- He still leads the global rich list by hundreds of billions over Larry Page.
Why is Elon Musk no longer a trillionaire?
The world's richest person lost twelve-figure status when Tesla and SpaceX shares plunged during Tuesday's global stock sell-off, according to Business Insider. Retail enthusiasm had pushed SpaceX higher for days after its IPO, but the rally reversed fast.
Moneycontrol reported that SpaceX's valuation fell by more than $600 billion in just three trading sessions. Because Musk's wealth is tied to equity holdings, swings in those two stocks can erase or add hundreds of billions within hours.
What is Elon Musk's net worth right now?
Both Moneycontrol and Business Insider cite Bloomberg's Billionaires Index, which valued Musk at $957 billion as of Tuesday. That figure places him back below the trillion-dollar threshold that briefly made him the only person in history with a thirteen-figure fortune.
Breaking down the Bloomberg tally, his SpaceX stake was worth about $744 billion and accounted for nearly 80% of his net worth. His Tesla holdings were valued at roughly $158 billion. For more billionaire wealth updates, see our Net Worth & Wealth coverage.
How did SpaceX's IPO make Musk a trillionaire?
Musk crossed $1 trillion earlier this month, moments after SpaceX's initial public offering valued the company at more than $2 trillion, Business Insider reported. Investor demand lifted shares sharply in the days that followed the historic listing.
That rally was short-lived. The subsequent sell-off pulled his fortune back down. Business Insider notes that market fluctuations are typical, and if SpaceX bounces back, so will Musk's net worth.
Does Elon Musk still rank as the world's richest person?
Yes. Despite slipping below $1 trillion on Bloomberg's measure, Musk remains comfortably ahead of every other billionaire. Business Insider notes the gap between him and runner-up Larry Page is roughly $660 billion, a margin larger than the combined fortunes of many top-ten names.
The headline may have changed, but the pecking order has not. For now, the question is not whether Musk leads the rich list, but how volatile SpaceX shares will be in the weeks ahead.