Elon Musk loses trillionaire status as net worth drops

SpaceX founder Elon Musk has fallen from trillionaire status, with his net worth now estimated at $962 billion as of Tuesday, according to Forbes. This marks a significant drop from his peak valuation.

Musk's wealth had surged, reaching an estimated $1.1 trillion on June 12 following SpaceX's market debut on the Nasdaq. The momentum continued on June 16 when SpaceX's stock climbed 40% to an all-time high, pushing Musk's fortune to a record $1.45 trillion.

However, his net worth subsequently declined by 31% on Tuesday. This decrease is linked to a slump in SpaceX's stock price and new restrictions placed on $116 billion worth of his Tesla shares. These restrictions stem from a 2018 compensation package that granted Musk stock options tied to Tesla's growth targets.

The 2018 package was initially invalidated by a Delaware court in 2024 but was later reinstated by the Delaware Supreme Court in late 2025. Under a revised agreement from April, the stock options convert into restricted stock upon exercise. Musk could forfeit these shares if he ceases to be Tesla's chief executive or a senior operations executive before January 2028.