The world’s richest person shed more than $150 billion in under two weeks — but a 6% recovery in SpaceX stock could make him a trillionaire all over again.
From Historic High to Below $1 Trillion — in 14 Days
Elon Musk has lost his trillionaire status just under two weeks after becoming the first person in history to achieve it. According to the Bloomberg Billionaires Index, his fortune stood at $957 billion on Tuesday — down from a peak of $1.32 trillion reached on 16 June, and below the $1.11 trillion valuation he held at the time of his record-breaking milestone.
The collapse was swift. A broader rout across technology stocks, driven by mounting doubts over the long-term profitability of artificial intelligence, pulled down high-profile names including Nvidia, Intel, and AMD. But it was SpaceX — the company that made Musk a trillionaire in the first place — that took the hardest hit.
The SpaceX IPO That Changed Everything
Musk first crossed the trillion-dollar threshold on 12 June, when SpaceX made its long-awaited debut on the Nasdaq exchange. The IPO was priced at $135 per share and opened at $150, valuing the rocket and satellite company at more than $1.77 trillion. With Musk owning roughly 42% of the company, the listing instantly pushed his net worth past the historic mark.
Investor enthusiasm carried the stock even higher in the days that followed, with SpaceX shares peaking at $225.64 by 16 June — lifting Musk’s total fortune to $1.32 trillion.
The Correction Was Brutal
The rally didn’t last. Concerns over AI infrastructure costs, capital spending, and persistently high interest rates triggered a sharp pullback across the tech sector. SpaceX shares plunged more than 30% from their mid-June peak, falling back to around $156.
The most punishing single day came on 22 June, when a 16% drop in SpaceX shares wiped an estimated $240 billion from Musk’s personal balance sheet in one session. Tesla shares fell nearly 6% the following day, compounding the damage. Musk holds around 12% of Tesla’s outstanding stock.
A Fortune Built on Two Stocks
What makes Musk’s financial position uniquely volatile is the extreme concentration of his wealth. Unlike most billionaires who hold diversified portfolios, nearly 80% of his net worth is tied to SpaceX alone, with Tesla accounting for most of the remainder. When either company moves sharply, so does his fortune.
Danni Hewson, head of financial analysis at AJ Bell, offered a measured perspective on the turbulence. For a stock like SpaceX, she noted, much of the early buying may have been driven by emotion and excitement about the future of space exploration rather than cold financial analysis — and investing, even at this scale, rewards patience over hype.
Could He Bounce Back?
Despite the losses, Musk remains the world’s richest person by a considerable margin. And the path back to trillionaire status may not be long — analysts estimate a 6% recovery in SpaceX shares would be enough to restore his 13-figure status.
There is one potential headwind ahead: insider lock-up restrictions are set to lift in late July, allowing early SpaceX shareholders and company insiders to begin selling their stakes. That could add further downward pressure on the stock in the near term.
Still, given the speed with which Musk ascended to trillionaire status — and the relatively modest recovery needed to get back there — he may yet become the world’s first recurring trillionaire.
