WEB DESK: The net worth of billionaire entrepreneur Elon Musk has dropped below the $1 trillion mark following a decline in the value of his major business holdings.
According to international reports, Musk briefly became the first person in history to surpass a net worth of $1 trillion earlier this month after shares of SpaceX gained significant value following the company’s stock market debut.
However, recent estimates from the Bloomberg Billionaires Index indicate that his fortune has declined to around $957 billion, compared with approximately $1.11 trillion two weeks ago.
The reduction in wealth is largely linked to a downturn in the market performance of both Tesla and SpaceX, resulting in a substantial decrease in the value of Musk’s shareholdings.
Despite the setback, Musk continues to rank among the world’s richest individuals, with a fortune that remains close to the trillion-dollar milestone and far ahead of most other billionaires.
