Musk Loses 'Trillionaire' Title in Less Than Two Weeks
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- 2026-06-25 05:08:46
- Updated
- 2026-06-25 05:08:46
Elon Musk, the world's richest person, lost his status as the world's first 'trillionaire' on the 24th local time.
He gave up the title in less than two weeks.
Musk, who had become a trillionaire after SpaceX's stock market debut on the 12th sent shares soaring, has now slipped back to 'billionaire' status as his net worth fell with the stock plunge.
BBC, citing the Bloomberg Billionaires Index, reported that Musk's net worth fell to $957 billion, or about 1,477 trillion won, based on the market close on the 23rd. On the 12th, it had reached $1.11 trillion.
The decline was driven by sharp drops in SpaceX and Tesla shares.
Even so, Musk remains by far the world's richest person.
According to Forbes' real-time tally, Musk is more than three times richer than Larry Page, the Google co-founder ranked second, whose net worth is estimated at $283 billion.
Even if the assets of Page, Sergey Brin, the Google co-founder in third place with $261.1 billion, and Jeff Bezos, the Amazon founder in fourth place with $246.8 billion, are combined, the total comes to $790.9 billion, still below Musk's net worth.
Only after adding Michael Dell, the Dell founder ranked fifth with $232.8 billion, does the total reach $1.0237 trillion, barely surpassing Musk.
The main reason Musk lost the trillionaire title in less than two weeks was the drop in SpaceX shares.
SpaceX began trading at $150 in its first session after the initial public offering (IPO) on the 12th, 11% above the offering price of $135. By the 16th, the stock had surged 49.4%. At the time, Musk's net worth peaked at $1.32 trillion.
However, the stock fell 3.6% on the 17th, then dropped 5% on the 18th and more than 16% on the 22nd, marking three straight sessions of losses.
Musk is the largest shareholder in SpaceX, holding about 42% of the company, so the decline in his assets was significant.
In addition, Tesla, in which Musk holds about 12%, has also struggled recently, adding to the decline in his net worth.
dympna@fnnews.com Song Kyung-jae Reporter