Elon Musk is no longer a trillionaire. His net worth has fallen to $957 billion. The Bloomberg Billionaires Index, a real-time wealth tracker, recorded the drop as of 23 June 2026.
The sharp decline erases a milestone that Musk had held for fewer than two weeks. On 12 June, shares of SpaceX began trading on public markets at valuations that briefly pushed his fortune above $1 trillion for the first time in history. The IPO priced 555.6 million shares at $135 apiece, giving SpaceX an opening valuation of $1.77 trillion. Shares subsequently surged to a post-IPO peak of $225.80 before investors began booking profits.
By 23 June, SpaceX stock had retreated to approximately $154, a decline of roughly 31% from its high of $225.64, according to the Bloomberg Billionaires Index. The broader market capitalisation of SpaceX fell to approximately $1.99 trillion, down from a peak that had briefly exceeded $3 trillion in the days immediately after the IPO. Over roughly the same period, SpaceX's total market cap shed more than $600 billion in just three days.
How SpaceX Became Nearly 80% of Musk's Measured Wealth
Musk's headline net worth is almost entirely a function of share prices in companies where he holds large, illiquid stakes. SpaceX accounts for nearly 80% of his measured fortune. That concentration means a 30% correction in a single stock is sufficient to erase more than $350 billion in calculated wealth within weeks.
On 12 June, Musk was celebrated as the first human being in history to cross the $1 trillion threshold. By 23 June, that threshold had receded by $43 billion.
The full decline from his post-IPO peak is steeper still. Musk's net worth reached $1.32 trillion at its highest point, Forbes and Bloomberg indexes confirmed, meaning the total paper loss since that peak stands at approximately $363 billion. To put the scale of this loss into context, a single tranche of that decline, roughly $152 billion, exceeded the entire estimated fortune of billionaire investor Warren Buffett.
The drop in Musk's calculated wealth between 12 June and 23 June totalled approximately $118 billion, according to figures revealed by Bloomberg data. SpaceX shares fell from their 12 June listing price high of $225.80 to around $154 by 16 June alone, a decline largely attributed to profit-taking after the stock's record run.
A Broader Tech Selloff Compounds the Pressure
SpaceX's retreat did not happen in isolation. The pullback in its shares arrived alongside a broader selloff across the technology sector, driven in part by concerns about an inflating AI investment bubble and the prospect of further interest rate increases, according to Business Insider. Tesla, the electric vehicle manufacturer where Musk also serves as chief executive, contributed additional downward pressure on his calculated net worth during the same period.
SpaceX's financial profile adds another layer of complexity to the wealth calculation. The company's artificial intelligence segment, xAI generated $12.7 billion in revenue in 2025 while recording $4.9 billion in expenses attributable to that division. The AI segment's cost structure has drawn investor attention as the company scales operations, and those concerns appear to have factored into the post-IPO reassessment of SpaceX's valuation.
It is also worth noting that the Bloomberg Billionaires Index placed Musk's net worth at $957 billion as of 23 June, whereas Forbes, which operates its own independent real-time wealth model, still estimated his fortune at approximately $1.1 trillion around the same date. The two methodologies differ in how they value private company stakes and apply discounts for illiquidity, which accounts for the gap in their respective outputs.
Neither presents net worth as a cash balance. Both are, by design, estimates of theoretical liquidation value. The figure that headlines assign to Musk, whether it reads $957 billion or $1.1 trillion or $1.32 trillion, is a product of share prices multiplied by share counts. When share prices fall by 31%, the headline falls with them.
