Elon Musk Falls Below Trillion-Dollar Net Worth as SpaceX Shares Decline

Wednesday 24 June 2026 - 13:33

Elon Musk’s net worth has fallen below the symbolic trillion-dollar mark, according to the Bloomberg Billionaires Index, as fluctuations in SpaceX’s market valuation weighed heavily on the fortune of the world’s richest individual.

The American entrepreneur, who had briefly become the first person in history to surpass the trillion-dollar threshold earlier this month, now sees his wealth estimated at around 957 billion dollars following a decline in the value of SpaceX shares.

The drop comes after SpaceX stock reportedly fell by nearly 4% in a recent trading session, reducing the company’s valuation to just under 2 trillion dollars. This marks a notable reversal from its recent peak, when strong investor demand during its initial public offering had pushed the company’s market capitalization to record highs.

Following its highly successful IPO in June 2026, SpaceX had been valued at approximately 2.9 trillion dollars, briefly positioning it among the most valuable companies globally and placing it ahead of major tech giants such as Microsoft and Amazon. The listing also created thousands of new paper millionaires among employees.

However, the company has since experienced sustained volatility, shedding hundreds of billions of dollars in market value from its peak. Analysts attribute the decline to broader tech-sector fluctuations and profit-taking following the rapid post-IPO surge.

Despite the recent setback, SpaceX remains one of the most influential players in the global aerospace and satellite communications industry, with continued investor attention on its long-term projects in space exploration and commercial launch services.