Musk acknowledged himself as a former trillionaire

American entrepreneur Elon Musk has stated that he is no longer a trillionaire.

He announced this on the social network X following a significant decline in the share price of SpaceX.

Musk's net worth surpassed $1 trillion after SpaceX's IPO, which took place on June 12. The company's shares debuted on Nasdaq and by June 16 had reached an all-time high of $225.64, making Musk the world's first trillionaire.

However, since then SpaceX shares have dropped by approximately 50% and at the time of publication were trading at $114 per share. Against this backdrop, the entrepreneur's net worth also declined, and he confirmed the loss of his trillionaire status.

SpaceX's IPO documents also revealed that the company holds 18,712 bitcoins. At a cryptocurrency price of $64,151.11, the value of these assets is estimated at approximately $1.2 billion.

The decline in SpaceX's share price also impacted related contracts traded on the decentralized exchange Hyperliquid. The contract tracking the price of one SpaceX common share mirrored the stock's trajectory: after reaching a peak of $228.74 on June 16, its price fell to $114.50. Over the past 24 hours, trading volume for this contract totaled $227 million, while open interest reached $164 million.