Elon Musk loses trillionaire status as global tech sell-off hits SpaceX and Tesla shares
By
Francisco Velasquez
Summary
Elon Musk briefly became the world's first trillionaire after SpaceX's public debut, but lost that status less than two weeks later as a global tech rout erased billions from his fortune. A sharp retreat in SpaceX and Tesla shares, fueled by growing doubts over AI profitability, dropped his net worth from $1.11tn to $957bn according to the Bloomberg Billionaires Index.
Source
bskyElon Musk loses trillionaire status as global tech sell-off hits SpaceX and Tesla sharesbbc.co.ukKey quotes
· 3 pulledTech 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.
The Bloomberg Billionaires Index - updated daily at 17:30 in New York (22:30 BST) - valued his fortune at $957bn (£727bn) on Tuesday, down from the $1.11tn valuation less than 14 days ago.
The reversal followed a sharp retreat in SpaceX and Tesla shares as technology stocks broadly tumbled, fuelled by growing doubts over the long-term profitability of artificial intelligence.
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