Elon Musk Loses Trillionaire Status as SpaceX Slumps 30%, Cutting Net Worth to $957 Billion
Updated
Updated · Business Insider · Jun 23
Elon Musk Loses Trillionaire Status as SpaceX Slumps 30%, Cutting Net Worth to $957 Billion
3 articles · Updated · Business Insider · Jun 23
Summary
$957 billion is Musk’s new estimated net worth after Tuesday’s global sell-off knocked him back below the $1 trillion mark, according to Bloomberg’s Billionaires Index.
SpaceX drove most of the drop: shares closed near $156, down more than 30% from a $225 intraday peak on June 16, while Tesla also fell amid fears of an AI bubble and higher interest rates.
The reversal came just weeks after SpaceX’s IPO valued the company above $2 trillion and briefly pushed Musk into trillionaire territory on a retail-fueled rally.
SpaceX still makes up nearly 80% of Musk’s fortune—about $744 billion—but its coming lockup expiration and a disclosed $4.9 billion 2025 loss could test whether the valuation holds.