Elon Musk loses trillionaire status as SpaceX and Tesla stock drops

Falling shares push tech mogul back down to billionaire ranks after SpaceX IPO made him world’s first trillionaireElon Musk was no longer a trillionaire by the time markets closed on Wednesday. Elon Musk loses trillionaire status as global tech rout hits SpaceXImage source, Getty ImagesImage caption, Elon Musk during the Cannes Lions International Festival Of Creativity 2024.ByFrancisco VelasquezBusiness reporterPublished28 minutes agoTech entrepreneur Elon Musk lost his trillionaire status on Tuesday, less than two weeks after becoming the first person to achieve it following SpaceX's public debut, according to data from Bloomberg.