SpaceX Plunges 16% Combined with Tesla Decline Sends Musk's Net Worth Below $1 Trillion
Alina Collins
A 16% single-day SpaceX crash and a 5.8% Tesla drop pushed Elon Musk's net worth to $957 billion, stripping his trillionaire status — yet the swing reveals concentrated-holding volatility more than any fundamental reversal.
What happened — how did Musk lose so much so fast?
SpaceX (SPCX) plunged 16% on Monday, wiping roughly $240 billion off Musk's fortune in a single session.
Tesla (TSLA) fell another 5.8% on Tuesday. The combined blow dropped his net worth to $957 billion on the Bloomberg Billionaires Index.
This means → Musk has officially slipped below the trillion-dollar mark and lost his "trillionaire" title.
How is SpaceX trading post-IPO — has it stabilized?
SpaceX completed its listing on June 12 and has traded choppily since.
The stock edged up roughly 1% on Tuesday; by Wednesday pre-market the gain had narrowed to 0.4%.
In plain terms = there has been no strong rebound after the crash, and whether the stock steadies from here remains an open question.
What does the trillion-dollar breach really mean — has Musk actually "lost"?
Despite falling below the threshold, Musk's net wealth gain since the start of 2026 still stands at $338 billion.
That gain alone exceeds the entire fortune of the world's second-richest person, Google co-founder Larry Page ($297 billion).
This reflects a concentration effect: with most of his wealth locked in two stocks — SpaceX and Tesla — market swings are amplified far beyond what the underlying business fundamentals would imply. The trillion-dollar threshold is a volatility story, not a reversal story.
Content is for reference only, not financial advice.