Musk loses trillionaire status; Jensen Huang, Larry Ellison lose $15 bn amid IT stock sell-off
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Elon Musk lost his trillionaire status on October 8 after his fortune fell to $991.6 billion.
- ✓SpaceX and Tesla shares dropped, wiping $36.4 billion from his wealth.
- ✓Meanwhile, Jensen Huang and Larry Ellison also lost $15 billion as tech stocks fell.
Story at a Glance
- Category
- MARKET
- Reported By
- mint
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
Elon Musk on Thursday lost his trillionaire status for the second time in a month after a sharp fall in SpaceX and Tesla shares wiped $36.4 billion off his fortune in a single trading session.
According to Forbes, Musk's net worth fell to $991.6 billion as of 1:30 pm EDT on October 8, slipping below the $1 trillion mark just three days after he regained it.
SpaceX shares dropped around 3.5% amid investor concerns over reports that the company plans to raise $40 billion to buy Nvidia chips. Tesla shares fell more than 2%, adding to the decline.
Musk first crossed the trillion-dollar threshold in June after SpaceX went public, briefly reaching an estimated fortune of $1.45 trillion.
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