Elon Musk Is No Longer a Trillionaire After Wealth Decline.

Elon Musk is no longer part of the world’s trillionaires after a decline in SpaceX’s stock value and new restrictions placed on some of his Tesla shares.

Musk became the first person in history to reach trillionaire status after SpaceX’s public listing on June 12 pushed his estimated wealth to about $1.1 trillion. His fortune later rose briefly to a record $1.45 trillion when SpaceX shares increased by 40%.

However, SpaceX’s stock price later dropped by 31%, while restrictions affecting about $116 billion worth of Musk’s Tesla shares reduced his estimated net worth.

According to Forbes, Musk’s wealth is now estimated at around $962 billion.

The report said Musk recently transferred $7.1 billion worth of Tesla shares to cover the exercise price of Tesla stock options linked to his 2018 CEO performance award.

Following legal decisions and a new agreement with Tesla, those options were converted into restricted shares that Musk could lose unless he remains with the company in a leadership role until January 2028.

Forbes removed the restricted Tesla shares from its calculation of Musk’s wealth to follow the same method used for other billionaires’ unvested shares.

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