--- title: "Musk's Trillionaire Crown Wobbles as SpaceX Selloff Erases Roughly $240 Billion" description: "Eleven days after SpaceX's record IPO made Elon Musk the world's first trillionaire, a sharp reversal in the rocket maker's shares has wiped roughly $240 billion off his paper fortune — leaving him hovering right at the trillion-dollar line, on the wrong side of it on some wealth trackers." category: "Economy" category_url: https://boursel.com/category/economy author: "Hannah Blackwood" published: 2026-06-24T18:28:00.000Z updated: 2026-06-24T18:28:00.000Z canonical: https://boursel.com/article/musk-trillionaire-status-spacex-selloff tags: ["elon-musk", "spacex", "tesla", "billionaires", "tech-selloff"] --- # Musk's Trillionaire Crown Wobbles as SpaceX Selloff Erases Roughly $240 Billion Eleven days after SpaceX's record IPO made Elon Musk the world's first trillionaire, a sharp reversal in the rocket maker's shares has wiped roughly $240 billion off his paper fortune — leaving him hovering right at the trillion-dollar line, on the wrong side of it on some wealth trackers. Elon Musk's record-setting fortune has gone into reverse. After SpaceX's blockbuster public debut briefly made him the first person ever worth more than $1 trillion, a steep selloff in the rocket company's shares has erased about [$240 billion from his net worth](https://fortune.com/2026/06/23/spacex-share-fluctuation-elon-musk-net-worth-trillionaire/) — a sum roughly equal to the entire market value of IBM — and put the milestone in doubt. ## How he got there — and how fast it reversed Musk's ascent to trillionaire was itself a product of speed. On June 12, SpaceX priced its initial public offering at $135 a share, valuing the company at roughly $1.77 trillion and raising about $75 billion in [the largest IPO on record](https://www.visualcapitalist.com/elon-musk-becomes-worlds-first-trillionaire/) — a deal Boursel covered. Shares climbed sharply afterward, lifting Musk's combined fortune — across SpaceX, Tesla, X, Neuralink and The Boring Company — to a peak of about $1.32 trillion in mid-June. Then the reality check arrived. SpaceX shares [fell more than 16% in a single session](https://fortune.com/2026/06/23/spacex-share-fluctuation-elon-musk-net-worth-trillionaire/), a roughly $400 billion swing in the company's market value, and slid about 31% from their post-IPO high. By June 23, Bloomberg's Billionaires Index put Musk's net worth at about $1.08 trillion — still a trillionaire, but barely. By June 24, with the selloff deepening, some trackers showed him slipping back below the $1 trillion mark; others kept him just above it. ## Why the numbers disagree The divergence is a feature of how these fortunes are measured. Net worth at this scale is almost entirely *paper wealth* — wealth trackers multiply a person's share count by the prevailing market price, a useful convention that bears little resemblance to cash on hand. Most of Musk's SpaceX stake is subject to a standard post-IPO lock-up and cannot be sold. And because only a small slice of SpaceX's shares trade publicly, the price swings violently, dragging the estimates with it. Bloomberg and Forbes also apply different discounts to illiquid private holdings, which is why their figures can differ by [more than $100 billion](https://www.businesstoday.in/markets/stocks/story/elon-musk-wealth-declines-trillionaire-tag-lost-despite-spacex-shares-rebound-heres-how-538865-2026-06-24) on the same day. ## What is dragging it down Several forces converged. SpaceX trades at a steep multiple of its revenue and reported a [net loss in the first quarter of 2026](https://www.cnbc.com/2026/06/22/spacex-stock-ipo-rally-selloff.html), leaving it exposed once early euphoria faded; reports of a planned multibillion-dollar bond sale added to investor unease about its cash burn. Tesla, in which Musk holds roughly an 11% stake, has slid alongside a broader technology-stock rout driven by worries over stretched AI valuations and rising interest-rate expectations under new Fed Chair Kevin Warsh — the same strong-dollar, risk-off backdrop Boursel has tracked through the bitcoin and "debasement trade" selloff. Whatever the precise figure on any given hour, Musk remains the richest person on the planet by a wide margin — the next-closest fortunes sit hundreds of billions of dollars behind. The story is less that he has been dethroned than that the world's first trillion-dollar fortune has proved as volatile as the thinly traded stock underpinning it. These estimates move with every trading session and should be read as approximations, not fixed sums.