According to the Bloomberg Billionaires Index, the net worth of American entrepreneur and SpaceX founder Elon Musk has fallen below $1 trillion, currently standing at $957 billion.

At the start of the main trading session on June 23, SpaceX shares fell 3.9% to $148.57. The company's market capitalization dropped to $1.99 trillion. For the first time since its record-breaking IPO, SpaceX's market cap fell below $2 trillion, causing it to lose significant ground in the ranking of the world's largest public companies. This trading session marked the fourth consecutive decline for SpaceX.

In June, the company raised $75 billion through its IPO. After the listing, its market capitalization exceeded $2.9 trillion (reaching about $2.99 trillion), briefly allowing SpaceX to surpass Microsoft and Amazon and enter the top four most valuable public companies globally. However, the company's value subsequently declined from the peak levels achieved after going public.

The SpaceX IPO also made Elon Musk the world's first trillionaire: according to Bloomberg estimates, his net worth reached $1.05 trillion. Additionally, the share listing enabled more than 4,400 company employees to become millionaires.

Source: kun.uz