Elon Musk has officially lost his historic trillionaire status just weeks after becoming the first person in world history to hit the milestone when SpaceX went public on June 12, boosting his initial fortune to an estimated $1.1 trillion. While a spectacular 40% surge in the rocket maker’s stock saw Musk’s net worth briefly peak at a record $1.45 trillion during intraday trading on June 16, a subsequent 31% slump in SpaceX shares through Tuesday radically eroded those gains. Compounding this market downturn, new legal restrictions placed on $116 billion of his Tesla stock have pulled the world’s richest person back under the twelve-figure threshold, leaving him with an estimated net worth of $962 billion as of the end of Tuesday. This financial shift comes after Musk surrendered $7.1 billion of his Tesla stock last Tuesday to cover the exercise price on performance options received from his 2018 CEO award, which was originally voided by a Delaware judge in 2024 before being restored by the state’s Supreme Court in 2025. Following that high-profile ruling, Tesla and Musk entered into a new agreement in April that turned his exercised options into restricted stock, meaning Musk will completely forfeit the massive holding unless he remains at Tesla through January 2028 as Chief Executive Officer or an executive officer explicitly responsible for the automotive company’s product development or core operations.
