Elon Musk's Wealth Falls Below $1 Trillion Following SpaceX Stock Decline

Elon Musk, the richest man on Earth, saw his fortune decrease below the $1 trillion mark, settling at $957 billion according to the Bloomberg Billionaires Index.

This decline was triggered by a drop in the stock price of his company, SpaceX. Musk had become the first trillionaire in history just 12 days earlier, on June 12, 2026, following SpaceX’s successful initial public offering (IPO).

At the start of the main trading session on Tuesday, SpaceX shares fell by 3.9% to $148.57, causing the company's market capitalization to decrease to $1.99 trillion.

This marks the first time since the record-setting IPO that SpaceX's market value has fallen below $2 trillion. The company ranked seventh among the largest publicly traded companies globally, experiencing its fourth consecutive session of market value losses.

During its June 2026 IPO, SpaceX raised over $85 billion, with its market capitalization surpassing $2.9 trillion. This allowed it to temporarily overtake Microsoft and Amazon, entering the list of the four largest public companies by market value. Since that peak, SpaceX has lost approximately $550 billion in market capitalization.

Besides making Musk the first trillionaire, the SpaceX IPO also created over 4,400 new millionaires among the company’s employees.