SpaceX Share Decline Cuts Musk’s Net Worth
American entrepreneur Elon Musk net worth has fallen to an estimated $982.9 billion after SpaceX shares dropped by over 3% following market opening, causing him to lose his status as the world’s first trillionaire once again. According to Forbes, the market downturn wiped approximately $26.3 billion from his fortune.
This steep decline took place just four days after the business magnate had regained his trillionaire status.
Chronology of Trillionaire Milestones and Fluctuations
Musk first reached trillionaire status in mid-June following SpaceX’s initial public offering (IPO), when Forbes valued his wealth at $1.1 trillion. However, two weeks later, his net worth slipped back below the $1 trillion mark.
He regained the status for a second time on June 29, only to fall below the benchmark again on July 1. Musk most recently reclaimed the trillionaire milestone on October 9 before the latest drop.
