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Musk says he is a former trillionaire as fortunes swing after debuts
Tesla shares have fallen 25% over the past month and SpaceX stock has moved far below its June IPO peak, underscoring how quickly mark to market losses can change net worth.
Elon Musk posted on X that he is a “former trillionaire,” a jab at the sharp drop in his paper wealth after recent moves that boosted his net worth and then reversed. Yahoo Finance said his fortune was estimated at roughly $1.45 trillion at its peak, and by July 27 Forbes estimated it had fallen below $700 billion, a decline of more than $750 billion on paper.
The outlet linked the swing to volatility in assets tied to companies he helped build. It noted Tesla shares have plunged 25% over the past month, while SpaceX has had a turbulent run since going public in June.
Yahoo Finance added that SpaceX shares debuted at $135 and briefly surged as high as $225.64, before sliding below its IPO price and trading roughly 50% below its all time high. The piece emphasized that such moves can lower an owner’s net worth even without selling shares, because the value is marked to market.
The story also contrasted ultra rich portfolios with typical investors, saying market pullbacks are common and that declines are part of the risk of owning public assets.
The S&P 500 has seen at least a 5% decline during 93% of calendar periods, according to the article.
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