Elon Musk is no longer a trillionaire, with his net worth dropping to about $957 billion on Tuesday in the United States after a sharp stock plunge in Tesla and SpaceX, according to Bloomberg's Billionaires Index and fresh SpaceX filings that show a $12.7 billion AI bill weighing on the business.
Musk briefly crossed the trillionaire line earlier this month when SpaceX staged its long-awaited initial public offering in the US. The rocket company, long treated by investors as the crown jewel of his empire, was valued at more than $2 trillion after its historic market debut. Retail traders piled in, the share price took off, and Musk's paper wealth followed, driven overwhelmingly by his SpaceX stake rather than Tesla or his other ventures.
