By Eva RoytburgFellow, NewsDown Arrow Button IconBy Eva RoytburgFellow, NewsDown Arrow Button IconJune 24, 2026, 3:38 PM ETElon Musk, SpaceX CEO. Apu Gomes/Getty ImagesElon Musk, the world’s richest man, briefly held onto the title of being the world’s first and only trillionaire before his net worth was deflated back down to a more modest nine-figure amount. On June 12, the day SpaceX began trading on the Nasdaq, Musk became the first person ever to have a $1 trillion net worth. But by June 24, his fortune had flattened down to $957 billion, according to Bloomberg’s Billionaires Index.During that period, the SpaceX and Tesla CEO was worth—depending on who was counting, using what measures, and what time during the day—somewhere between $1.32 trillion and $1.45 trillion at the top.
Forbes also downgraded Musk’s status, but gave him a few extra million than Bloomberg did: $962 billion, after removing $116 billion of restricted Tesla stock from its math. The two trackers still agree on the durable fact: he is still, by a wide margin, the richest person on the planet. (Larry Page trails far behind as the world’s second richest person, with a net worth hovering around $300 billion).
Two forces pulled the stock since the exuberant IPO-week. One was macro: investors priced in the possibility of one or more interest rate hikes after the Fed’s hawkish June meeting, which established the same higher-for-longer backdrop now lifting the dollar to a 13-month high and dragging oil and gold lower.The other was specific to SpaceX: confirmation of a planned bond sale, reported at roughly $20 billion to $25 billion, which raised the obvious question about why a capital-intensive company issuing debt at a valuation that had just outrun its IPO price. Debt-buyers showed high demand for the bonds, but for the shorter-dated ones, about five years; a less risky purchase than some of the longer term debt that Musk wants to auction off.
