Musk’s Estimated Fortune Falls Below $1 Trillion After SpaceX Drop

Elon Musk’s estimated fortune stood at $977.2 billion on Oct. 16, below the trillion-dollar mark. Separately, Musk lost an estimated $28.6 billion on Oct. 13, about 2.8% of his fortune as of 12:20 p.m. ET (16:20 UTC).

SpaceX shares fell more than 3% after the market opened Tuesday. The decline came during a wider AI-chip selloff that began in Asian markets and affected SK Hynix, Samsung and TSMC. Tesla shares were down 0.5% that morning.

Musk’s estimated SpaceX stake was 48.4%, and his Tesla stake was about 11%.

SpaceX shares rose almost 8% Monday, lifting Musk’s estimated fortune to $1.03 trillion in a rally that took the stock to its highest close since June. The shares were priced at $135 in June, reached $225.64 within days, then fell to $108 by early August before recovering above $160.