Elon Musk lost his trillionaire status in Forbes and Bloomberg rankings after a decline in SpaceX stock value. This was reported by Qazaqyia.kz citing The Guardian.
According to Forbes, on June 24, Musk's fortune shrank to $956.5 billion. At the beginning of the week, on June 22, it was estimated at $1.1 trillion.
The Bloomberg Billionaires Index also estimates the entrepreneur's wealth at approximately $957 billion. Musk remains the richest person in the world but is no longer considered a trillionaire.
As The Guardian writes, Musk's return to the ranks of billionaires came after a fall in SpaceX shares. During the initial public offering, the company sold shares to investors at $135 each. On June 12, the first day of trading, their price rose to $176, making Musk the world's first trillionaire.
SpaceX shares peaked on June 16, when their price rose to $225. However, on the evening of June 23, after a 16% decline, the stock price fell to $156.
Earlier, Kursiv reported that Elon Musk's wealth exceeded $1 trillion for the first time after SpaceX's record IPO. The company set the offering price at $135 per share and raised $75 billion, making it the largest IPO in U.S. history. As a result, SpaceX was valued at $1.77 trillion and became one of the most valuable companies in the world.
Before the share offering, Musk's wealth was estimated at about $780 billion. After the IPO, the value of his stake in SpaceX rose to approximately $866 billion, and including assets in Tesla and other companies, his total wealth exceeded $1.1 trillion.
Musk gained widespread fame through Tesla and SpaceX. Later, he acquired the social network X, formerly known as Twitter, and became more active in U.S. political and public life.
Against the backdrop of the record offering, analysts again discussed the so-called "Elon Musk premium" — the additional market value that investors are willing to pay for companies associated with the entrepreneur's name.