It took Elon Musk decades to become the world’s first trillionaire. It took the stock market about two weeks to take that title away.

Following a brutal decline in SpaceX shares, Musk’s net worth has dropped to roughly $956.5 billion to $957 billion, according to Forbes and Bloomberg estimates. That’s still an unfathomable amount of money, but it’s no longer the 13-digit figure that briefly made financial history.

From IPO euphoria to a 30% plunge

SpaceX went public on June 12, 2026, debuting at a valuation of approximately $2 trillion to $2.2 trillion. The IPO was, by any measure, a landmark event. It catapulted Musk’s net worth above $1 trillion, with estimates placing his peak fortune somewhere between $1.1 trillion and $1.45 trillion.

Shares climbed to $225.64 by June 16. Then gravity did what gravity does.

By June 23-24, SpaceX stock had fallen to between $154 and $156 per share. That’s a decline of roughly 30% in just over a week. In dollar terms, the slide erased an estimated $300 billion to $350 billion from Musk’s personal wealth.

The culprit wasn’t anything SpaceX-specific. A broader sell-off across the technology sector dragged down valuations across the board, and SpaceX, freshly public and trading at a sky-high valuation, was particularly vulnerable to the downdraft. Tesla shares faced pressure during the same period, compounding the damage to Musk’s portfolio.

Still the richest person alive, by a wide margin

His fortune is anchored by two massive positions: a roughly 41% stake in SpaceX and an approximately 20% stake in Tesla.

Analysts have largely characterized the pullback as a market adjustment rather than a reflection of deteriorating fundamentals.

What this means for crypto investors

Bitcoin’s market cap has historically been used as a benchmark for Musk’s personal wealth, and the comparison is instructive. Both are subject to rapid revaluations driven more by sentiment shifts than by changes in underlying value.

The broader tech sell-off that dragged SpaceX lower is also worth watching from a crypto perspective. Technology stocks and digital assets have shown increasing correlation during risk-off episodes over the past several years.

There’s also a concentration risk lesson here. Musk’s wealth is overwhelmingly tied to two companies. A 30% move in one of them can erase $300 billion overnight.