{"id":5589,"date":"2026-06-25T16:02:01","date_gmt":"2026-06-25T16:02:01","guid":{"rendered":"https:\/\/houstonmovingjournal.com\/?p=5589"},"modified":"2026-06-25T16:02:01","modified_gmt":"2026-06-25T16:02:01","slug":"elon-musk-loses-trillionaire-status-after-tech-sell-off-erases-billions-from-fortune","status":"publish","type":"post","link":"https:\/\/houstonmovingjournal.com\/?p=5589","title":{"rendered":"Elon Musk loses trillionaire status after tech sell-off erases billions from fortune"},"content":{"rendered":"

Elon Musk<\/u> is no longer worth more than $1 trillion, less than two weeks after becoming the first person to reach the milestone.<\/p>

Read more Marcus Stuckett appointed new Harris County Flood Control Director<\/a><\/p>

Musk\u2019s net worth was valued at $946 billion as of Wednesday, according to the Bloomberg Billionaires Index<\/u>. That is down from about $1.11 trillion less than 14 days earlier.<\/p>

The drop came after shares of SpaceX and Tesla fell during a broader tech sell-off. Investors have become more cautious about the long-term profitability of artificial intelligence.<\/p>

Musk remains the world\u2019s richest person by a wide margin. As of Wednesday, Larry Page ranked second at $296 billion, followed by Sergey Brin at $275 billion, Jeff Bezos<\/u> at $257 billion and Michael Dell at $223 billion, according to the Bloomberg Billionaires Index.<\/p>

SPACEX MAKES HISTORIC DEBUT; MUSK SOLIDIFIES STATUS AS WORLD\u2019S FIRST TRILLIONAIRE<\/u><\/strong><\/p>

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Elon Musk speaks during a town hall in Green Bay, Wisconsin on March 30, 2025. (Photo by Robin LEGRAND \/ AFP) (Photo by ROBIN LEGRAND\/AFP via Getty Images)<\/span> <\/p> <\/div><\/div>

SpaceX priced<\/u> its IPO at $135 per share and began trading at $150 on June 12. The debut helped push Musk\u2019s net worth above $1 trillion.<\/p>

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At the IPO price, the listing valued SpaceX at more than $1.77 trillion. Musk owned about 42% of the company, and his SpaceX stake, combined with his Tesla holdings<\/u> and other assets, put his net worth at more than $1 trillion.<\/p>

MUSK’S SPACEX SURGES PAST AMAZON IN MARKET CAP AFTER HISTORIC IPO DEBUT<\/u><\/strong><\/p>

SpaceX shares later rose as high as $225.64 on June 16. That lifted Musk\u2019s net worth to about $1.32 trillion.<\/p>

But the gains did not last. SpaceX shares fell more than 30% from their June peak during the tech sell-off. On June 22, the stock dropped 16%, wiping about $240 billion from Musk\u2019s fortune.<\/p>

Tesla shares fell nearly 6% the next day, adding to the loss.<\/p>

SPACEX SET A NEW RECORD FOR IPOS: THESE ARE THE WORLD’S 5 LARGEST<\/u><\/strong><\/p>

Founded by Musk in 2002, SpaceX has grown into the world’s largest space company<\/u> and a dominant force in commercial launch services.\u00a0<\/p>

The company pioneered reusable rocket technology, helping lower launch costs and reshape the economics of the space industry. It has also become a key contractor for NASA and the U.S. government through civil and national security missions.<\/p>

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GET FOX BUSINESS ON THE GO BY CLICKING HERE<\/u><\/strong><\/p>

FOX Business’ Bradford Betz and Eric Revell contributed to this report.<\/i><\/p>

\u00a0<\/p> <\/div>","protected":false},"excerpt":{"rendered":"

Elon Musk is no longer worth more than $1 trillion, less than two weeks after becoming the first person to reach the milestone.<\/p>\n","protected":false},"author":1,"featured_media":5587,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[270,23],"tags":[],"class_list":["post-5589","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-elon-musk","category-world"],"yoast_head":"\nElon Musk loses trillionaire status after tech sell-off erases billions from fortune - Houston Moving Journal<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/houstonmovingjournal.com\/?p=5589\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Elon Musk loses trillionaire status after tech sell-off erases billions from fortune - 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