NewsWorld newsElon MuskElon Musk has lost his trillionaire status after shares in his rocket company SpaceX 'came down to Earth with a bump' - although he remains the world’s richest person by a considerable margin21:37, 24 Jun 2026Updated 22:01, 24 Jun 2026Elon Musk has lost his trillionaire status after shares in his rocket company SpaceX "came down to Earth with a bump".‌Bloomberg's Billionaires Index valued Musk's net worth at $957bn (£727bn) on Tuesday, down from $1.1tn less than two weeks ago, when SpaceX's public debut helped make him the world's first trillionaire.‌Meanwhile, Forbes' Real-Time Billionaires list put his fortune at $964bn (£732bn) on Tuesday. While he has slipped back into the billionaire club for now, Musk remains by a considerable margin the world’s richest person.‌The slump in shares of SpaceX - which accounts for nearly 80 per cent of Musk's net worth - and his electric vehicle company Tesla came amid a broader sell-off in technology stocks. The The tech magnate owns roughly 40 per cent of SpaceX and around 12 per cent of Tesla.Massive data-centre spending and rising geopolitical and economic risks - including the war with Iran - have fuelled doubts over the long-term profitability of artificial intelligence (AI).‌Musk became the world’s first trillionaire on June 12 after SpaceX shares soared following the biggest initial public offering (IPO) of stock in Wall Street history. The strong performance came despite the company losing $2.6bn overall from operations last year.While SpaceX priced its IPO at $135 per share, the stock jumped more than 19 per cent once trading began on June 12. The shares opened at around $150, climbed to a peak of $176 and closed the day at just under $161. That closing price gave the company a market value of $2.1tn, making it the sixth-largest public company in the US.‌SpaceX shares jumped as high as $225 on June 16 before slipping back to $156 on Tuesday. On Wednesday, shares were down 1.35 per cent in early trading at $154."For a stock like SpaceX, a lot of decision making might have been emotional and based on the anticipation of huge leaps forward in space exploration and utilisation, but investing should be something treated with clear eyes and patience, even when such huge numbers are involved," Danni Hewson, head of financial analysis at AJ Bell, told the BBC.Susannah Streeter, chief investment strategist at Wealth Club, said: "SpaceX has come down to Earth with a bump, burning off most of its post-launch steam. The sell-off may have been partly triggered by the confirmation that it was planning a bond sale, expected to be around $20bn.Article continues below"Issuing debt at such a heady valuation raises questions about cash flow for this hugely capital-intensive venture."Choose Daily Mirror as a 'Preferred Source' on Google News for quick access to the news you value.‌Elon MuskSpaceX