Short Pleasure: Elon Musk Is No Longer a Trillionaire
The drop came after a tech selloff cut Musk’s net worth below $1 trillion, though he remains the world’s richest person, Forbes said.
- On Tuesday, Elon Musk lost his status as the world's first trillionaire after a global rout in technology shares pushed his net worth below $1 trillion.
- Falling shares of Tesla and SpaceX drove the decline, fueled by broader market anxieties over rising interest rates and a potential AI investment bubble.
- By Wednesday's market close, Forbes estimated Musk's fortune at about $970 billion, down from the record-breaking IPO peak achieved earlier this month.
- Despite the drop, Musk remains the world's wealthiest individual by a wide margin, with his future trillionaire status contingent on rebounds in Tesla or SpaceX shares.
- The market correction reflects broader challenges for tech companies, as enterprises struggle to justify high costs for generative AI tools with measurable returns on investment.
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Nigerian News. Latest Nigeria News. Your online Nigerian Newspaper.Elon Musk loses trillionaire status as SpaceX shares tumble
Chief Executive Officer, CEO, of Tesla and SpaceX, Elon Musk, has lost his trillionaire status following a sharp decline in the value of the rocket company’s shares. According to the Bloomberg Billionaires Index, Musk’s net worth fell to $946 billion, yesterday, down from the more than $1 trillion valuation recorded on June 12 following SpaceX’s initial public offering, IPO. The billionaire became the world’s first trillionaire after the success…
Elon Musk loses trillionaire status
American businessman and owner of companies like SpaceX and Tesla, Elon Musk, became the first person in the world whose wealth was estimated at over a trillion dollars, but has since lost the status of "trillionaire". Musk reached this record level of wealth after it was decided that SpaceX would offer its shares on the stock markets, media reports. This decision significantly increased the value of the company, and due to the share of shares o…
Only a few weeks ago, Elon Musk's fortune crossed the trillion dollar mark for the first time. Now he is far away from this milestone.
'Then Why You Got So Much Of It?': Elon Musk Trashed Online After Losing Trillionaire Status
Tech entrepreneur Elon Musk lost his short‑lived trillionaire status on Tuesday in New York after a sharp fall in SpaceX and Tesla shares dragged his estimated net worth back below the thirteen‑figure mark, according to the Bloomberg Billionaires Index. The index, which still ranks him as the world's richest person, puts Musk at about $957 billion, less than two weeks after SpaceX's high‑profile Nasdaq debut briefly made him the world's first tr…
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