Elon Musk loses trillionaire status after SpaceX plunges nearly $1 trillion
Elon Musk had become, this month, the first human being to reach a net worth of US$1 trillion. This milestone was reached after the IPO of his company SpaceX (SPCX34), which had reached a market valuation of approximately US$2 trillion.
However, in a period of just over seven days, the scenario reversed for the company. The rocket manufacturer’s shares began to fall, resulting in the loss of around US$ 1 trillion in its market value, according to information from Nasdaq, the exchange where the shares are traded.
This devaluation of SpaceX’s assets was not an isolated event, but rather part of a broader sectoral movement. Several companies in the technology sector also recorded losses in their market value, including Tesla (TSLA34), another company led by Musk.
As a consequence of these factors, the businessman, who still holds the title of richest man on the planet, is no longer on the list of global trillionaires. Currently, Musk’s net worth is estimated at US$957 billion.
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In just two days of trading, Musk’s personal wealth is estimated to have decreased by approximately $250 billion. This amount, in reais and considering the current exchange rate, is equivalent to around R$1.3 trillion, exceeding the market value of Petrobras (PETR4), the state-owned company considered the most valuable on the Brazilian stock exchange, by more than twice.
Even with this substantial reduction, Musk has remained firmly at the top of the ranking of the richest for several months. His position at the top of the list of global tycoons is practically unquestionable, according to Bloomberg data.
To give you an idea, his fortune is almost four times greater than that of Larry Page, co-founder of Google, who has US$300 billion. Another prominent name is Sergey Brin, also from Google, with a net worth of US$275 billion, according to the same listing.
Check out the updated list of the top ten global billionaires
- Elon Musk: US$957 billion (Tesla and SpaceX)
- Larry Page: $297 billion (Google/Alphabet)
- Sergey Brin: US$276 billion (Google/Alphabet)
- Jeff Bezos: $257 billion (Amazon)
- Michael Dell: $223 billion (Dell)
- Larry Ellison: $219 billion (Oracle)
- Mark Zuckerberg: $200 billion (Target – Facebook and Instagram)
- Jensen Huang: $166 billion (Nvidia)
- Bernard Arnault: US$161 billion (LVMH – Louis Vuitton)
- Jim Walton: $147 billion (Walmart)
