Elon Musk’s romance with the title of the first trillionaire in history turned out to be exceptionally brief. Less than two weeks after crossing the thousand-billion threshold, the world's richest man was ousted from the four-comma club and returned to the status of "merely" a billionaire, with his wealth now estimated at $962 billion.

Musk made world history on June 12, when SpaceX went public on the stock exchange and boosted his fortune to $1.1 trillion. Four days later, on June 16, the rocket manufacturer's stock surged by an additional 40 percent, bringing his net worth to an all-time high of $1.45 trillion. However, from then until last Tuesday, the stock plummeted by 31 percent, dragging the founder's fortune down with it.

Alongside the sharp correction in SpaceX stock, the second main reason for the loss of the title is new restrictions imposed on Tesla shares in his possession, valued at $116 billion.

Last week, Musk relinquished $7.1 billion in Tesla shares to fund the exercise price of the options he received under his 2018 compensation package. This package, which was previously voided by a Delaware judge and reinstated by the state's Supreme Court in 2025, led to a new agreement signed this past April. According to the agreement, Musk's options were converted into restricted and conditional shares, and he will lose them entirely if he does not remain in the position of Tesla CEO or as the VP responsible for product development until at least January 2028.