Elon Musk Loses Trillionaire Status Amidst Stock Declines

 America. The world's richest person Elon Musk has lost his 'trillionaire' (more than 10 trillion rupees) status.

 A sharp decline in the share prices of his space company 'Space-X' and electric car manufacturing company 'Tesla' has caused a significant reduction in Musk's wealth.

According to the Bloomberg Billionaires Index, Musk's total wealth has fallen to $957 billion. Just about two weeks ago, with the successful listing of Space-X in the stock market, he had become the world's first 'trillionaire' with a wealth of $1.11 trillion. However, within 14 days of that, he had to lose this historic title.

The main reason for the decrease in Musk's wealth is the decline in the global technology market. Especially after investors expressed doubts about the long-term profits of Artificial Intelligence, along with the shares of big technology companies like Nvidia, Intel, and AMD, the shares of Musk's companies also saw a landslide, as mentioned in the BBC news.

The share of Space-X, which reached a high of $225.64 per share on June 16, is currently trading around $156, down about 30 percent.

Even after exiting the 'trillionaire' club, Musk still remains the richest person in the world.