Elon Musk made history on June 12 by becoming the world’s first trillionaire. The moment came after SpaceX listed on the NASDAQ and saw a strong demand from investors. The company priced its shares at $135 and opened above this level, quickly pushing SpaceX's stock higher.
This strong start helped Elon Musk's net worth cross $1 trillion for the first time. The rally did not stop there. Within a few days, SpaceX's stock moved above $225, raising his wealth to a peak of $1.32 trillion. This showed the impact a company can have on overall net worth when ownership is high.
The situation changed just as quickly when SpaceX’s stock lost around 31% of its value. The drop wiped out a large part of the company’s market value. In just about two weeks, Elon Musk's net worth fell by nearly $363 billion.
According to the Bloomberg Billionaires Index, his net worth now stands at $957 billion. The fall ended his short run as a trillionaire, though he still remains the richest person in the world by a big margin.
The pressure did not come from SpaceX alone. Tesla stock also moved lower during the same time. This added to Musk’s overall decline in wealth. A broader fall in technology stocks also played a role, as many large companies saw losses during this period.
A key reason behind the fall was SpaceX’s plan to raise $25 billion through a bond sale. The company plans to use this money for its artificial intelligence projects. Investors became cautious as the company continues to spend heavily and has not shown steady profits.
Musk’s business network also connects multiple companies like xAI and X, adding more financial pressure. Experts believe SpaceX's stock may stay unstable in the coming weeks. Early investors may start selling shares once lockup periods end, prompting increased price action.
This sharp rise and fall shows how fast billionaire wealth can change when it depends on stock prices. Big stakes in fast-growing companies can create large gains and losses within days. The event also shows that high market excitement can quickly turn into caution when prices rise too fast.
Even after this massive drop, Musk still holds a strong lead over others like Larry Page. His position at the top remains secure for now.
Also Read: SpaceX Trims IPO Target to $1.8 Trillion: Why Elon Musk is Playing it Safer?