Elon Musk Loses Trillionaire Status Again as SpaceX Shares Slide
Elon Musk’s Net Worth Falls Below $1 Trillion
Elon Musk, the world’s richest person, has fallen below the $1 trillion net-worth milestone once again after SpaceX shares declined in trading on Tuesday, October 13, 2026. The drop came just days after the billionaire had regained trillionaire status following a recovery in shares linked to his business empire.
According to Forbes, Musk’s estimated fortune fell sharply as SpaceX shares declined by more than 3% after the market opened. His net worth was estimated at approximately $977.2 billion by 12:20 p.m. Eastern Daylight Time on Tuesday, representing a decline of around $28.6 billion from the previous valuation.
The setback demonstrates how quickly billionaire wealth estimates can change when the value of major business holdings fluctuates. Musk’s fortune is heavily tied to companies including SpaceX and Tesla, meaning movements in their share prices can have a substantial impact on his overall net worth.
SpaceX Stock Decline Triggers Billion-Dollar Wealth Loss
SpaceX’s stock performance was the main factor behind Musk’s latest fall below the trillion-dollar threshold. The company, known for its rocket launches, satellite internet network Starlink and ambitions in space exploration, has become a major driver of Musk’s estimated wealth.
The decline followed a period of significant volatility in SpaceX’s market valuation. After a strong rally in early October, the company’s shares came under pressure, reducing the value of Musk’s stake.
Tesla shares also edged lower during Tuesday’s trading session, adding to the pressure on Musk’s estimated fortune. Although Tesla’s movement was comparatively modest, the combined effect of changes in his holdings contributed to the overall decline.
It is important to note that billionaire net-worth figures published by outlets such as Forbes are estimates, not cash balances. They reflect the estimated market value of assets and company stakes, alongside other relevant financial adjustments. As share prices move, these estimates can rise or fall significantly even when an individual has not sold any assets.
From the World’s First Trillionaire to Another Market Setback
Musk first crossed the trillionaire threshold in June 2026 following SpaceX’s historic initial public offering (IPO). The company’s stock-market debut generated significant investor attention and initially pushed its valuation higher.
SpaceX shares reportedly opened at $135 and climbed above $200 during the first days of trading. However, the stock subsequently experienced a steep decline, falling to around $108 in early August before staging a recovery.
By early October, a rally in SpaceX and Tesla shares had helped Musk regain trillionaire status. His fortune again moved above $1 trillion on October 9, according to Forbes reporting. The latest fall below that milestone, only a few days later, underlines the volatility of wealth estimates linked to rapidly changing market valuations.
SpaceX’s market performance has therefore become increasingly important to Musk’s ranking among the world’s wealthiest people. Investors will continue to watch the company’s share price as they assess its long-term prospects in commercial spaceflight, satellite communications and other technology-related businesses.
What the SpaceX Stock Slide Means for Musk’s Wealth
Musk’s latest loss of trillionaire status does not necessarily indicate that his businesses have experienced a comparable deterioration in their operations. A fall in share prices can reflect changing investor sentiment, market-wide movements, valuation concerns or expectations about future growth.
For investors, the episode illustrates the difference between paper wealth and liquid assets. Much of Musk’s estimated fortune is linked to equity holdings rather than money held as cash. Consequently, changes in market valuation can shift his reported net worth by billions of dollars in a single trading session.
SpaceX remains closely watched because of its position in the commercial space industry and its Starlink satellite internet business. Tesla, meanwhile, remains a major part of Musk’s business portfolio. The performance of both companies can influence his net-worth estimate and his position on global billionaire rankings.
Outlook: Will Elon Musk Regain Trillionaire Status?
Whether Musk returns above the $1 trillion mark will depend in part on the future performance of SpaceX and Tesla shares, as well as any changes in the valuation of his other assets.
The latest decline may prove temporary if the stocks recover, just as the early-October rally helped push his fortune back above the threshold. However, continued volatility could keep his estimated net worth below $1 trillion.
Elon Musk’s estimated fortune dropped below $1 trillion after SpaceX shares fell more than 3% on October 13, 2026. The reversal came only days after he regained trillionaire status, highlighting how stock-market movements can reshape the wealth rankings of the world’s richest people.