Elon Musk drops trillionaire status

Elon Musk lost his trillionaire status after the stock values of Tesla and SpaceX declined, with his net worth dropping to $970.2 billion. The decrease followed a global stock selloff driven by concerns over interest rate hikes and an AI market bubble, affecting tech companies including SpaceX, which previously propelled his wealth to over $1 trillion after its record-breaking IPO. Despite the loss, Musk remains the world's richest person, with most of his wealth tied to stock holdings.

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