Elon Musk became the world’s first trillionaire on June 12
US entrepreneur Elon Musk lost his trillionaire status less than two weeks after becoming the first person in history to surpass the $1 trillion mark, following a sharp selloff in technology stocks significantly eroded the value of his fortune. 
According to the Bloomberg Billionaires Index, Musk’s net worth fell to $957 billion on Tuesday, from around $1.11 trillion less than two weeks earlier.
The decline followed a broad selloff in technology shares, driven by growing concerns over the long-term profitability of artificial intelligence investments. The downturn weighed on shares of SpaceX and Tesla, which account for the bulk of Musk’s wealth.
Musk became the world’s first trillionaire on June 12 after SpaceX went public on the Nasdaq.
With an approximately 42% stake in SpaceX, Musk’s fortune immediately surpassed the $1 trillion mark. It later climbed to a peak of $1.32 trillion on June 16 as the stock reached record highs, before retreating as the shares surrendered most of their gains.
Elon Musk became the world’s first trillionaire on June 12
US entrepreneur Elon Musk lost his trillionaire status less than two weeks after becoming the first person in history to surpass the $1 trillion mark, following a sharp selloff in technology stocks significantly eroded the value of his fortune.
According to the Bloomberg Billionaires Index, Musk’s net worth fell to $957 billion on Tuesday, from around $1.11 trillion less than two weeks earlier.
The decline followed a broad selloff in technology shares, driven by growing concerns over the long-term profitability of artificial intelligence investments. The downturn weighed on shares of SpaceX and Tesla, which account for the bulk of Musk’s wealth.
Musk became the world’s first trillionaire on June 12 after SpaceX went public on the Nasdaq.
With an approximately 42% stake in SpaceX, Musk’s fortune immediately surpassed the $1 trillion mark. It later climbed to a peak of $1.32 trillion on June 16 as the stock reached record highs, before retreating as the shares surrendered most of their gains.
