Elon Musk loses trillionaire status as global tech rout hits SpaceX and Tesla stock

Elon Musk briefly achieved the unprecedented milestone of becoming the world's first trillionaire on June 12, 2026, largely driven by the historic initial public offering (IPO) of his space exploration company, SpaceX. The successful stock market debut of SpaceX propelled his net worth beyond $1 trillion, even peaking at approximately $1.45 trillion just days later.

However, this elite status proved to be short-lived. A subsequent global downturn in the technology market, marked by a significant sell-off in tech stocks, severely impacted the valuations of both SpaceX and Tesla. Consequently, Musk's fortune has reportedly fallen back below the trillion-dollar threshold, with current estimates placing his net worth in the range of $946 billion to $970.2 billion, reinstating his billionaire status, although he remains the world's wealthiest individual. The substantial decline in SpaceX's shares, which plummeted over 30% from their peak, was a primary factor in this reversal, coupled with broader market weakness.