No Longer a Trillionaire: Elon Musk’s Net Worth Has Declined
24 June 13:03
Elon Musk, the world’s richest person, is no longer a trillionaire after Tesla and SpaceX stock prices plummeted on Tuesday, June 24. According to the Bloomberg Billionaires Index, his net worth now stands at $957 billion.
This was reported by Business Insider, as cited by "Komersant Ukrainian".
Musk became a trillionaire earlier this month, immediately following SpaceX’s historic initial public offering, which valued the rocket company at over $2 trillion.
The company’s stock rose for several days, and retail investors eagerly poured money in, hoping the company would deliver on its science-fiction-like promises.
“However, SpaceX shares plummeted this week. On Tuesday, they closed at around $156, more than 30% below the intraday high of $225 recorded on June 16, although that is still higher than the $150 at which the stock began trading on June 12,” — the publication writes.
According to Business Insider, tech stocks have fallen in recent days amid fears of an artificial intelligence “bubble” and rising interest rates.
Some analysts are questioning SpaceX’s extremely high valuation and its ambitious goals—ranging from building data centers in space to landing humans on Mars.
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The upcoming expiration of the lock-up period, when early investors and shareholders will be able to sell their shares, will be a serious test.
“The rocket company remains Musk’s most valuable asset. According to Bloomberg, as of Tuesday, the value of his shares stood at $744 billion and accounted for nearly 80% of his net worth. His $158 billion stake in Tesla also took a hit from the sell-off,” the publication reports.
Musk’s net worth still significantly exceeds that of the second-richest person—Google co-founder Larry Page.
However, the company still earns far less than tech giants with similar valuations, such as Broadcom and Amazon.com.
In 2025, SpaceX’s revenue rose to $18.67 billion from $14.02 billion a year earlier, but the company shifted to a net loss of $4.94 billion from a profit of $791 million.
Some Wall Street analysts are cautious about the company’s growth.
Goldman estimates that SpaceX’s revenue will exceed $470 billion in 2030, while Morgan Stanley forecasts that it will reach nearly $330 billion.
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