Elon Musk loses his trillionaire status after a sharp drop in wealth

Elon Musk’s brief run as the world’s first trillionaire appears to be over. Less than two weeks after crossing the trillion-dollar mark, his fortune has fallen back to an estimated $962 billion, ending his place in the exclusive four-comma club.

Musk made history on June 12, when SpaceX went public and lifted his net worth to $1.1 trillion. Four days later, on June 16, the rocket maker’s stock jumped another 40%, pushing his wealth to an all-time high of $1.45 trillion. Since then, however, the shares have fallen 31% through last Tuesday, dragging down the value of his stake.

The second major reason for the decline is new restrictions on Tesla shares tied to Musk’s holdings, which are valued at $116 billion. Last week, he gave up $7.1 billion in Tesla stock to cover the exercise price of options granted under his 2018 pay package.

That compensation package had previously been struck down by a Delaware judge, then reinstated by the state’s Supreme Court in 2025. A new agreement signed in April converted Musk’s options into restricted, conditional shares. Under the deal, he will lose them entirely if he does not remain Tesla’s CEO or the vice president in charge of product development at least until January 2028.