Just days after breaking records on Wall Street, Elon Musk lost his title as the first trillionaire in history due to a sudden massive sell-off in the global stock market. The Bloomberg Billionaires Index shows his net worth is currently $957 billion, keeping him the richest person on the planet. Musk reached his zenith earlier this month after the historic IPO of SpaceX, which shot the company's valuation above $2 trillion. However, shares fell 30% from a peak of $225 on June 16 to around $156, driven by panic that the AI sector is a speculative bubble and fears of an interest rate hike. SpaceX's Form S-1 revealed a net loss of $4.9 billion for 2025, with $12.7 billion spent on its AI division. Musk’s SpaceX stake is valued at $744 billion, nearly 80% of his wealth, while his Tesla shares are worth $158 billion. The gap between Musk and second-ranked Larry Page is $660 billion, exceeding Jeff Bezos's entire fortune.