Elon Musk loses trillionaire status as global tech rout hits SpaceX
Elon Musk lost his trillionaire status on Tuesday after a sharp global tech sell-off wiped billions from his wealth. The downturn hit his holdings including Tesla and the privately valued SpaceX. The rout came as investors retreated from highly valued technology stocks.
Elon Musk lost his trillionaire status on Tuesday after a sharp sell-off in global technology stocks erased billions from his fortune.
The decline hit Musk's holdings, including electric-car maker Tesla and the privately valued space company SpaceX. Highly valued technology shares fell as investors trimmed their appetite for risk.
The pullback is seen as part of a broader market correction following a recent artificial-intelligence-driven rally. Analysts said volatility could persist in the coming days as markets reassess stretched valuations.
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