Elon Musk has fallen below the trillionaire threshold after his net worth declined by $118 billion in a single adjustment.

This has reduced his fortune to an estimated $957 billion, according to the latest update from the Bloomberg Billionaires Index as seen by Nairametrics.

The sharp decline, representing an 11% drop in Musk’s wealth, comes despite the billionaire remaining the world’s richest person and posting a year-to-date gain of $338 billion, or 54.5%.

What the data is saying

Bloomberg data shows that the decline was largely driven by a change in the methodology used to calculate Musk’s holdings in Tesla, rather than a broad deterioration in the value of his businesses.

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The adjustment follows Musk’s exercise of stock options tied to Tesla’s 2018 CEO performance award.

  • In June 2026, he acquired approximately 286 million Tesla shares under the compensation package. However, Bloomberg excluded the shares from its net worth calculation because they remain unvested and are subject to performance and service-related conditions.

The exclusion alone accounted for roughly $111 billion of the decline in Musk’s fortune, causing him to lose his status as the world’s first trillionaire less than a month after achieving the milestone.

Get up to speed

Musk’s wealth remains heavily concentrated in his holdings across Tesla and SpaceX, which continue to be the primary drivers of his fortune.

  • According to Bloomberg, Musk owns about 11% of Tesla, excluding the restricted shares linked to his compensation package. The electric vehicle giant remains one of the world’s most valuable automakers despite increasing competition in the global EV market.
  • A larger portion of Musk’s wealth is now tied to SpaceX, which completed a landmark initial public offering in June 2026 at a valuation of approximately $1.8 trillion. Bloomberg identifies SpaceX as Musk’s biggest asset, with the billionaire holding roughly 4.76 billion shares in the company.
  • The index excludes around 1.3 billion unvested restricted SpaceX shares as well as shares pledged as collateral for debt obligations. Musk also holds exercisable stock options in the aerospace company.

Additional contributions to his net worth come from stakes in his private ventures, including Neuralink, xAI and The Boring Company. Bloomberg values these businesses using funding-round data and market estimates.

What you should know

Nairametrics previously reported that Elon Musk’s net worth had fallen by an estimated $350 billion in about one week, dropping to approximately $1.1 trillion as of Tuesday, according to a Forbes report.

  • Musk’s fortune, which stood at $1.4 trillion on June 16, was hit by a sharp selloff in SpaceX shares that wiped nearly $1 trillion off the company’s market capitalization over three consecutive trading sessions, based on Forbes estimates.
  • SpaceX stock tumbled 16% on June 22, extending losses from its June 16 peak to more than 30%, as investors took profits following the company’s historic public listing.

Despite the recent decline, Musk remains the world’s richest individual, with his wealth still largely tied to his holdings in SpaceX, Tesla, xAI, Neuralink, and other private ventures.

Bloomberg’s latest billionaire ranking shows Musk’s fortune at $957 billion, following a separate adjustment that excluded billions of dollars worth of unvested Tesla shares from its net worth calculations.