Elon Musk Calls Himself '(Former) Trillionaire' as SpaceX Shares Slide

Elon Musk posted the phrase "(Former) trillionaire" on X on July 24, 2026, after a sharp decline in SpaceX and Tesla shares erased roughly $130 billion from his fortune that week alone.

CNBC reported that Tesla shares fell 18 percent for the week, its worst slump since 2022, while SpaceX shares dropped 7.2 percent over five days to close at $115.07, the lowest level since its June 12, 2026 IPO. The combined slide pushed Musk’s net worth below the $1 trillion mark for the second time in weeks.

Forbes and Bloomberg Billionaires Index tracked the fall in real time. Musk’s wealth peaked near $1.45 trillion after SpaceX shares surged 40 percent post-IPO. By late June his fortune had already slipped to between $957 billion and $970 billion. Further drops in July sent estimates below $900 billion according to Forbes. A single-day SpaceX decline of 16.4 percent on one Monday wiped more than $152 billion from his holdings, according to Forbes. Sky News calculated that roughly $350 billion had been shaved from Musk’s net worth in less than two weeks after the IPO.

The SpaceX IPO in mid-June 2026 had briefly made Musk the world’s first individual trillionaire according to Motley Fool. Shares reached a high near $225 before retreating more than 31 percent per Investopedia. Musk’s wealth remains heavily concentrated in his stakes in SpaceX and Tesla, so percentage moves in either stock translate directly into hundreds of billions of dollars in paper gains or losses.

The sell-off occurred amid broader doubts about AI profitability that triggered a global tech rout per Guardian. SpaceX and Tesla were not alone in the decline, but the scale of Musk’s equity concentration magnified the impact on his personal net worth. Despite the losses, Musk stayed the world’s richest person by a wide margin according to Guardian.

Founder wealth tied to single-company equity proved extremely volatile once the shares began trading publicly. The episode illustrated how quickly post-IPO gains can reverse when market sentiment shifts, a reference point for any founder weighing a listing. Global risk appetite for technology and space ventures also softened, which can affect capital flows to startups seeking funding from U.S. and international investors.

Starlink’s expansion plans and upcoming Starship test flights continue to draw attention from governments and operators across Africa and elsewhere. Valuation swings at SpaceX may indirectly influence investor sentiment toward satellite and deep-tech infrastructure projects on the continent.

In a post on X on Friday, Musk wrote, "(Former) trillionaire."

Tyler Roush of Forbes noted that Musk’s wealth had decreased by over $300 billion as the SpaceX slide continued for a third consecutive day, erasing all growth following the record-breaking IPO. BBC coverage stated that Musk forfeited trillionaire status just under two weeks after becoming the first individual to reach that milestone.

Investors and analysts will watch the next Starship flight and any further moves in SpaceX shares, which closed at their lowest level since the IPO. Continued volatility could test whether the post-IPO valuation holds or whether additional rounds of selling pressure emerge.