The world’s richest person, Elon Musk, has seen his wealth decline sharply over the past two days. The Tesla CEO and SpaceX founder lost a total of $88.5 billion in just 48 hours, an amount that is almost equal to the entire net worth of Reliance Industries chairman Mukesh Ambani.
According to the Bloomberg Billionaires Index, Musk’s fortune now stands at $1.23 trillion. Despite the recent fall, his net worth has increased by $608 billion so far this year.
Elon Musk lost $88.5 billion in two days
Musk‘s wealth took a hit after SpaceX’s shares fell sharply. He owns about 42% of the company.
On Wednesday, his net worth dropped by more than $56.4 billion, followed by another decline of $32.1 billion on Thursday. Combined, Musk lost $88.5 billion in two days, almost matching Mukesh Ambani’s total net worth of $88.8 billion.
Why did Elon Musk’s net worth fall?
The decline was mainly due to a fall in SpaceX shares. The company’s stock dropped 3.56% on Thursday, reducing its market value to $2.437 trillion.
Even after the decline, SpaceX remains the sixth most valuable company in the world. Only Nvidia, Alphabet, Apple, Microsoft and Amazon are ahead of it in terms of market capitalization.
Who are the world’s top 10 richest people?
According to the Bloomberg Billionaires Index, Google co-founder Larry Page is the second-richest person in the world with a net worth of $314 billion, followed by Sergey Brin at $291 billion.
Amazon founder Jeff Bezos also has a net worth of $291 billion, while Larry Ellison ranks fifth with $238 billion. Michael Dell is sixth with $221 billion, followed by Mark Zuckerberg at $206 billion, Nvidia CEO Jensen Huang at $174 billion, Bernard Arnault at $168 billion, and Warren Buffett at $146 billion.
Where do Mukesh Ambani and Gautam Adani rank?
Adani Group chairman Gautam Adani is currently the richest person in India and Asia. With a net worth of $119 billion, he ranks 17th globally. His wealth has increased by $34.9 billion this year.
Mukesh Ambani, chairman of Reliance Industries, is ranked 25th in the world with a net worth of $88.8 billion. However, his wealth has declined by $18.9 billion since the beginning of the year.
Read Also: Elon Musk behind dropping of 2000 bombs in Iran? Report reveals shocking war mystery
First published on: Jun 20, 2026 03:30 AM IST
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Navya Dubey
Navya Dubey is a Sub-Editor at News 24 with two years of experience in journalism. Passionate about storytelling and reporting, she covers a wide range of topics including politics, crime, general news, and breaking stories. She also takes a keen interest in trending and viral content, bringing readers engaging and thought-provoking stories that capture public interest.
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