25/06/2026
The world's richest man just lost a trillion-dollar title in under two weeks. πΈ Elon Musk's net worth has dropped to $957 billion according to the Bloomberg Billionaires Index, stripping him of the trillionaire status he earned on June 12 when SpaceX went public in the largest IPO in history. SpaceX shares crashed more than 31% from their peak of $225 to around $156 and a single Monday session alone erased $240 billion from his fortune. Tesla shares fell an additional 5.8% the same week adding to the damage.
The collapse was fueled by a broad tech selloff driven by fears of an AI bubble and rising interest rate concerns. π SpaceX's own filings revealed a $4.9 billion net loss in 2025 with its AI division burning $12.7 billion in capital spending. Musk still leads all wealth rankings by a staggering margin as second-place Larry Page holds just $297 billion. When $240 billion can vanish in a single day π it raises one hard question about extreme wealth concentration in our world.
π Source: Bloomberg Billionaires Index, June 2026. Business Insider / Yahoo Finance Reports.