Elon Musk loses trillionaire status: Here's why his net worth fell

Elon Musk, once the world's first trillionaire, has seen his net worth dip below the 13-figure mark to $957 billion. A significant sell-off in Tesla and SpaceX shares, following SpaceX's IPO surge, has led to this decline. Concerns over an AI market bubble and potential interest rate hikes are contributing to the downturn in tech stocks.