{"id":2152,"date":"2026-06-24T20:46:28","date_gmt":"2026-06-24T20:46:28","guid":{"rendered":"https:\/\/crosscountrymovingteams.com\/?p=2152"},"modified":"2026-06-24T20:46:28","modified_gmt":"2026-06-24T20:46:28","slug":"elon-musk-was-the-worlds-first-trillionaire-for-12-days","status":"publish","type":"post","link":"https:\/\/crosscountrymovingteams.com\/?p=2152","title":{"rendered":"Elon Musk was the world\u2019s first trillionaire for 12 days"},"content":{"rendered":"
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Forbes also downgraded Musk\u2019s status, but gave him a few extra million than Bloomberg did: $962 billion, after removing $116 billion of restricted Tesla stock from its math. The two trackers still agree on the durable fact: he is still, by a wide margin, the richest person on the planet. (Larry Page trails far behind as the world\u2019s second richest person, with a net worth hovering around $300 billion).<\/p>\n

Read more \u2018Heinous actions\u2019: New York City teen sentenced to more than 5 years after admitting he set a sleeping homeless man on fire on the subway<\/a><\/p>\n

The round-trip excursion into trillionaire status was sponsored by SpaceX. The company priced its IPO at $135 a share and on June 12, raised a record $85.7 billion at a valuation near $1.77 trillion. Retail buyers chasing Musk\u2019s dream of data centers in space and an eventual Mars settlement pushed the stock to about $225 on June 16, briefly valuing the company close to $2 trillion. However, by Tuesday\u2019s close, it sat near $156, roughly 30% off the peak, and slipped further Wednesday, briefly dipping below the first-day pop price of $150.<\/p>\n

Musk\u2019s stake, about 40% of the company, still accounts for the bulk of his fortune; Bloomberg pegs it around $744 billion, or about four-fifths of everything he owns. Scholars have raised concerns about the highly-concentrated nature of the SpaceX governance structure, in that shareholders have unusually little amount of control over the company\u2019s future. The MSCI rated SpaceX a CCC, its worst rating, for its governance structure.<\/p>\n

But the other side of Musk\u2019s control is that when the stock goes down, his net worth fluctuates also.\u00a0\u00a0<\/p>\n

Read more Hockey might be coming to Houston \u2014\u00a0or Austin \u2014\u00a0in a deal between the NHL and billionaire Dan Friedkin<\/a><\/p>\n

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Two forces pulled the stock since the exuberant IPO-week. One was macro: investors priced in the possibility of one or more interest rate hikes after the Fed\u2019s hawkish June meeting, which established the same higher-for-longer backdrop now lifting the dollar to a 13-month high and dragging oil and gold lower.<\/p>\n

The other was specific to SpaceX: confirmation of a planned bond sale, reported at roughly $20 billion to $25 billion, which raised the obvious question about why a capital-intensive company issuing debt at a valuation that had just outrun its IPO price. Debt-buyers showed high demand for the bonds, but for the shorter-dated ones, about five years; a less risky purchase than some of the longer term debt that Musk wants to auction off.<\/p>\n

Read more Jack Schlossberg, Kennedy scion and sardonic social media star, loses in bid for New York state assembly<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The run ended due to falling SpaceX stock and a Forbes accounting change. <\/p>\n","protected":false},"author":1,"featured_media":2151,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[161],"tags":[],"class_list":["post-2152","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-spacex"],"yoast_head":"\nElon Musk was the world\u2019s first trillionaire for 12 days - Cross Country Moving Team<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/crosscountrymovingteams.com\/?p=2152\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Elon Musk was the world\u2019s first trillionaire for 12 days - Cross Country Moving Team\" \/>\n<meta property=\"og:description\" content=\"The run ended due to falling SpaceX stock and a Forbes accounting change.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/crosscountrymovingteams.com\/?p=2152\" \/>\n<meta property=\"og:site_name\" content=\"Cross Country Moving Team\" \/>\n<meta property=\"article:published_time\" content=\"2026-06-24T20:46:28+00:00\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/?p=2152#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/?p=2152\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/#\\\/schema\\\/person\\\/1b8121bfb9a1c55d1fff3fca675fceaa\"},\"headline\":\"Elon Musk was the world\u2019s first trillionaire for 12 days\",\"datePublished\":\"2026-06-24T20:46:28+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/?p=2152\"},\"wordCount\":437,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/?p=2152#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/wp-content\\\/uploads\\\/2026\\\/06\\\/e71f36770585f574f09c3e953115be67.webp\",\"articleSection\":[\"SpaceX\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/crosscountrymovingteams.com\\\/?p=2152#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/?p=2152\",\"url\":\"https:\\\/\\\/crosscountrymovingteams.com\\\/?p=2152\",\"name\":\"Elon Musk was the world\u2019s first trillionaire for 12 days - 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