--- title: "SpaceX Stock Has Fallen So Far That Elon Musk Is No Longer a Trillionaire" description: "SpaceX's blockbuster IPO earlier this month made Elon Musk, who was already the wealthiest person in the world by net value, unfathomably rich." date: "2026-06-24" modified: "2026-06-24" authors: - name: "Victor Tangermann" job_title: "Senior Editor" link: "https://futurism.com/authors/victor" url: "https://futurism.com/space/spacex-stock-fallen-elon-musk-trillionaire" categories: - "Future Society" - "Space" - "SpaceX" --- # SpaceX Stock Has Fallen So Far That Elon Musk Is No Longer a Trillionaire ![A colorful photo illustration featuring a photograph of Elon Musk.]() *Illustration by Tag Hartman-Simkins / Futurism. Source: Benjamin Fanjoy/Getty Images; Shutterstock* SpaceX's blockbuster IPO earlier this month made Elon Musk, who was already the wealthiest person in the world by net value, unfathomably rich. After shares rallied to a peak of $225 on June 16, a stunning 50 percent rise over their opening price, Musk officially [became the world's very-first trillionaire]() — an obscene hyper-capitalist milestone highlighting the [tech oligarchy's iron grip on society](). But once the hype died down in the days following its IPO, SpaceX's stock [started falling]() last week. The downturn accelerated by Monday, when the company experienced its [most bruising single day of trading yet](), wiping out hundreds of billions in market capitalization. Now that shares are hovering just above the company's opening price, struggling to clear even the mid $150s by midday Wednesday, Musk's net value has once again shrunk to a still-obscene $957 billion, [according to *Bloomberg*'s Billionaires Index](), robbing him of his new honorific. Making matters worse, shares of his EV maker Tesla haven't been immune to a [global tech sell-off](), slipping five percent over the last five days. However, as [*Quartz* points out](), SpaceX still accounts for almost 80 percent of his net worth, a position in the stock valued at $744 billion, meaning the rocket company's fate is very much tied to his. Given major fluctuations over the last two weeks, SpaceX investors are still racing to make sense of the company's enormous valuation, especially given its shaky business fundamentals and unproven plans to establish a constellation of orbital data centers. What analysts keep pointing out is that retail investors aren't really vouching for the company's performance — they're basically just [betting on Musk himself](), and his grandiose vision for the future. Waiting in the wings are short sellers — [long a thorn in Musk's side]() — who have been increasing their bets against the company in the wake of recent drops in share price, as [*Reuters* reports](). "Short interest in SpaceX is building remarkably ​fast for a stock that has only been public a couple of weeks," Ortex co-founder ⁠Peter Hillerberg told the news agency, pointing out that the recent share price wipeout is a "clear sign that a ​growing number of traders are positioning for the price to fall sharply." **More on SpaceX:** [*SpaceX Stock Has Officially Fallen Below Its Opening Price*]() ## Author I've been at Futurism since 2017, where my role has evolved to encompass design, writing, and increasingly editing. I've always been fascinated by space exploration and advanced transportation, which I've leaned into by interviewing luminaries in those fields while closely following the dimensions of policy and regulation that allow next-generation projects to succeed -- or, sometimes, to fail. I'm also keenly interested in the effects of generative AI on society, policies, and democratic institutions, as well as clean energy, physics and biology, and the vagaries of tech leadership. My work for Futurism has been cited by publications including Ars Technica, Gizmodo, PC Magazine, Jalopnik, Fox News, and the New York Post. I spent my childhood living in locations including Manila, the Philippines, and Geneva, Switzerland, attended McGill University, and now live in Toronto, Canada. Before Futurism I worked at AskMen and a small photography studio. In my free time, I'm an avid gardener, foodie, and craft beer lover, as well as a maker of artisanal hot pepper sauces. I have a magnificent dog named Freida. ### Author social links [Bluesky]()