According to the Bloomberg Billionaires Index, the net worth of American businessman Elon Musk has fallen below the one trillion dollar mark to 957 billion dollars. This was due to a fall in the share price of SpaceX.
By the close of trading on 23 June, SpaceX shares were trading at around $156. However, during the course of the day, the price of shares in Musk’s company had risen as high as $225. In pre-market trading ahead of the main trading session on 24 June, the price of SpaceX shares continued to fall.
Trading in SpaceX shares began on the stock exchange on 12 June at $150 per share. The company’s market capitalisation thus exceeded $2 trillion, and Musk became the first trillionaire in history.
Unlike the Bloomberg Billionaires Index, Forbes magazine still considers Musk a trillionaire, estimating his fortune at $1.1 trillion.