Elon Musk has lost his Trillionaire status following a massive global tech sell-off that sharply dragged down the stock prices of bot Drh SpaceX and Tesla.
This is coming just less than two weeks after becoming the first person to achieve that position of the first trillionaire in the world history when SpaceX went public on June 12, boosting his fortune to an estimated $1.1 trillion.
Musk is reported to have lost his trillionaire status after a decline in his aerospace company’s valuation, and new restrictions on his Tesla shares reduced his net worth. He is now worth an estimated $962 billion as of Tuesday, June 23, according to Forbes.
Although no longer trillionaire, Elon Musk is still the world’s richest person. The next wealthiest billionaire is Google co-founder Larry Page, whose net worth is about $284 billion, according to Forbes.
However, Musk made more money than Page’s entire fortune this year alone, increasing his net worth by $338 billion since January.