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Key Takeaways Musk’s net worth dropped to $957 billion, per the Bloomberg Billionaire Index.
That decrease still puts him hundreds of billions of dollars ahead of other tech moguls.
The richest man in the world is no longer a trillionaire.
Elon Musk’s estimated net worth surpassed $1 trillion earlier this month after SpaceX’s IPO, but decreased to $957 billion as of June 24, according to the Bloomberg Billionaires Index.
Image Credit: FABRICE COFFRINI / Contributor | Getty Images
SpaceX shares closed at $160.90 the day the stock began trading on Nasdaq on June 12 and reached a high of $201.80 on June 16, NBC News reported.
As of this writing, SpaceX is trading at $158.65 per share, a more than 20% decline from its peak last week.
In addition to SpaceX, where the majority of Musk’s fortune resides, the billionaire is co-founder of seven companies, including electric car maker Tesla and artificial intelligence company xAI.
The drop in Musk’s net worth still puts him hundreds of billions of dollars ahead of fellow tech billionaires like Larry Page, Jeff Bezos and Mark Zuckerberg, whose net worths span $200 billion to $297 billion, per the Index.
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