Elon Musk Falls Back Below the Trillion-Dollar Mark Within Days
Elon Musk has dropped out of the trillionaire club just days after becoming the first person in history to pass that threshold. His net worth is now estimated at about $957 billion, down from roughly $1.45 trillion.
The decline came after a sharp fall in SpaceX shares following its public offering, alongside losses in Tesla stock. According to reports, SpaceX’s valuation fell to around $2 trillion after a wave of investor selling.
Investors were said to be worried about the company’s lofty valuation and its enormous spending on artificial intelligence and future projects. Those concerns helped erase hundreds of billions of dollars from SpaceX’s market value.
Musk had only recently reached the milestone after SpaceX completed a historic IPO. At its peak, the company was valued at more than $2.6 trillion, but it has since lost hundreds of billions in value.
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