Elon Musk is no longer the world's only trillionaire, as a sustained sell-off in SpaceX and Tesla shares has eroded his personal fortune below the $1 trillion mark.
The shift comes nearly two weeks after SpaceX's initial public offering, marking a sharp reversal from the valuation surge that briefly propelled Musk to unprecedented wealth levels.
The decline reflects broader market pressure on both companies.
Tesla shares have faced headwinds, while SpaceX stock has retreated significantly from its post-IPO highs.
The combined effect of these price movements has stripped Musk of the trillionaire title he held for a short period following the space company's debut on public markets.
This development underscores the volatility inherent in Musk's portfolio, which remains heavily concentrated in his two flagship companies.