Elon Musk loses his trillionaire status – here’s why

Stay up to date with notifications from The IndependentNotifications can be managed in browser preferences.Jump to contentThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged inAllNewsSportCultureLifestyleElon Musk's brief tenure as the world's first trillionaire concluded less than two weeks after he achieved the milestone, as his net worth fell below the $1tn mark. His fortune, which peaked at approximately $1.1tn, has now decreased to around $957bn, according to the Bloomberg Billionaires Index. The primary cause of this decline was a sharp sell-off in SpaceX shares, which saw the company's valuation drop from nearly 3tntojustover3tntojustover2tn after its stock market debut. Further contributing to the reduction in his wealth was a broader downturn in the technology sector, leading to a 5.8 per cent fall in Tesla shares, another major component of Musk's holdings. Despite this significant financial adjustment, Musk retains his position as the world's wealthiest individual, holding a considerable lead over other prominent billionaires. In fullElon Musk is no longer a trillionaire as fortune drops after SpaceX sell-offThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in

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