A sharp downturn in US equity markets delivered a major financial blow to the world's wealthiest individual, Elon Musk. Heavy selling pressure across his key ventures dragged his fortune down by $79.4 billion, or approximately 7.54 lakh crore rupees, within a single trading day. Following this steep drop, Musk's net worth declined by 8.1 percent to stand at $906 billion, marking his largest single-day wealth reduction since August 5.
SpaceX and Tesla Valuation Declines
The primary driver behind this sudden wealth erosion was the sharp drop in equity valuations across Musk's business empire. Shares of the recently public SpaceX ended Thursday's session lower by 9.14 percent. Simultaneously, his electric vehicle flagship Tesla experienced a 3.08 percent drop. Because a massive portion of Musk's net worth is directly tied to these companies, the dual market slide immediately impacted his balance sheet.
The sharp pullback arrived immediately after a day of extraordinary gains, as Musk's net worth had surged by roughly $64 billion just twenty-four hours earlier. Despite Thursday's heavy losses, his broader wealth expansion throughout 2026 remains remarkably resilient. Since the beginning of the year, his total wealth has grown by about $451 billion, reflecting an overall increase of approximately 99.1 percent.
Tech Sector Pressures Hit Mark Zuckerberg
The broad retreat across US markets also took a substantial toll on several other prominent technology titans. Mark Zuckerberg, chief executive of Facebook parent company Meta, saw his personal fortune shrink by $16.6 billion during the same trading session. Following the contraction, Zuckerberg's wealth stands at $230 billion, maintaining his position as the world's fifth-richest person.
Current Standing of the Top Global Billionaires
Despite the single-day contraction, Musk remains firmly atop the global wealth index. Jeff Bezos holds the second spot with a valuation of $310 billion, followed closely by Google co-founders Larry Page at $279 billion in third and Sergey Brin at $260 billion in fourth position.
Trailing fifth-placed Zuckerberg, Michael Dell occupies the sixth slot with a net worth of $224 billion. Former Microsoft executive Steve Ballmer ranks seventh with $183 billion, while Nvidia leader Jensen Huang stands eighth with $176 billion, followed by Oracle co-founder Larry Ellison in ninth position holding $168 billion.
