Elon Musk said money doesn’t matter. Then he rolled out X Money and admitted he’s a ‘former trillionaire’

Elon Musk admitted it himself: he’s no longer a trillionaire.

On July 24, Musk posted “(Former) Trillionaire” on X, a rare public acknowledgment from a man who rarely concedes ground. The post came as his fortune kept sliding. He’d first dropped below $1 trillion on July 1, and the losses continued from there. This week alone, SpaceX shares fell another 4.8% on Monday to around $109.50, extending a 50% plunge since the stock’s June 16 high and pushing Musk’s net worth below $700 billion for the first time since December.

Forbes put the figure at roughly $695.7 billion, down from the $1.45 trillion peak he hit six weeks earlier when SpaceX’s IPO briefly made him the world’s first trillionaire. All told, Musk has lost about $750 billion on paper, nearly the combined net worth of the next three richest men in the world, Larry Page (roughly $268.5 billion), Sergey Brin (roughly $270.6 billion), and Jeff Bezos (roughly $252.6 billion).

The post is also ironic given what Musk had just told The Economist. Days earlier, in a wide-ranging interview with editor-in-chief Zanny Minton Beddoes at Tesla’s Texas Gigafactory, Musk predicted that money “won’t matter” by 2036, arguing AI and robotics will........

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