MUSK SLIPPED BELOW TRILLIONAIRE STATUS AT $970.2 BILLION
Musk trillionaire status barely got started before falling Tesla and SpaceX shares dragged Elon Musk’s fortune to $970.2 billion.
Forbes listed Musk’s net worth at $970.2 billion at the close of trading on Wednesday, June 24, 2026, just under the trillion-dollar line, The Guardian reported.
Musk first crossed the trillion-dollar mark on June 12, 2026, when SpaceX began trading publicly. The rocket, satellite and AI company’s IPO raised $75 billion, which The Guardian called the largest IPO in history.
The listing tied Musk’s wealth directly to SpaceX’s share price. Most of his fortune sits in stock and equity, not cash he can quickly spend. Elsewhere at SpaceX, a welder became a millionaire off the stock the company gave him when he went full time.
A global stock selloff that week hammered major tech names. Investors were rattled by worries about possible Federal Reserve interest-rate increases and fears of an AI bubble.
Alphabet and chipmakers such as Samsung were hit especially hard because their valuations were so closely linked to the AI boom.
Musk was still the world’s richest person. Larry Page, the Google co-founder, was next at about $284 billion.
Bloomberg put Musk’s gain at $338 billion since January. The Guardian said he could climb back over the trillion-dollar line if Tesla or SpaceX shares rebounded.
What happened next
They did rebound. On October 2, 2026, Forbes reported Musk gained $61 billion as SpaceX and Tesla shares rallied. Tesla’s third-quarter deliveries had beaten analyst expectations.
On October 5, 2026, Musk regained trillionaire status, with Forbes estimating his net worth at $1 trillion. Morgan Stanley analysts called SpaceX stock “cheap,” Forbes reported, which helped lift the shares.
The reign was short. On October 8, 2026, Musk lost trillionaire status again after SpaceX and Tesla shares dropped.
The next day, October 9, 2026, he was back. Yahoo Finance, carrying Forbes coverage, reported his net worth rose to $1.012 trillion that morning after SpaceX and Tesla shares rallied.
On October 13, 2026, Forbes put Musk’s net worth at $977.2 billion after SpaceX shares fell once markets opened, with Tesla shares down slightly too. That left him below trillionaire status once more.
