A 16% Single-Day Plunge On Monday Erased $240 Billion From Elon Musk’s Fortune In 24 Hours
According to The Guardian, Elon Musk is no longer a trillionaire, with the Bloomberg Billionaires Index placing his fortune at $957 billion following steep drops in both SpaceX and Tesla shares during a broad market selloff.
SpaceX shares settled near $156 by Tuesday’s close, a retreat of more than 30% from the $225 intraday high reached on June 16. A 16% single-day plunge on Monday alone erased roughly $240 billion from his fortune, according to Barron’s. Tesla fell an additional 5.8% on Tuesday, compounding the damage.
SpaceX had briefly been valued at nearly $3 trillion as retail investors flocked to the stock following its June 12 debut, attracted by Musk’s vision of space-based data centres and eventually establishing a human presence on Mars.
Despite the reversal, Musk’s fortune still far exceeds second-place Larry Page at $297 billion. Musk has added $338 billion to his net worth in 2026 alone, a figure that outstrips the total wealth of the world’s second-richest person.
He became the world’s first trillionaire. Two weeks later, the market took it back. That is what it looks like to have 80% of your wealth tied to two volatile stocks.
Check out our previous coverage of markets and billionaire wealth here.
