Elon Musk lost his trillionaire status on Tuesday after his estimated net worth fell by $28.6 billion as SpaceX shares declined, according to Forbes.

Axar.az reports, citing Forbes, that Musk’s fortune stood at $977.2 billion as of 12:20 p.m. Eastern Time on October 13, following a decline of around 2.8% alongside SpaceX’s share price.

Shares in Tesla, Musk’s electric vehicle company, also fell slightly, remaining down 0.5% at the time of the report.

Musk’s wealth is largely tied to his stakes in SpaceX and Tesla. He owns an estimated 48.4% of SpaceX and around 11% of Tesla, according to regulatory filings cited by Forbes.

Musk had regained trillionaire status only four days earlier, following a rally in both companies’ shares. He first became the world’s richest person with a net worth exceeding $1 trillion after SpaceX went public in June 2026.