Shares of SpaceX were down to $155 on Wednesday, and Musk was $6 billion poorer than he'd been when SpaceX debuted earlier this month.
SpaceX founder and CEO Elon Musk lost his status as the world's only trillionaire as the company's shares fell back to earth.
The company's debut on June 12 saw its opening share price rise over 24% in its first hours of trading. Shares opened at $150 and by the afternoon, they were over $165. That put the company's market value over $2.1 trillion dollars, and Musk became the world's first trillionaire.
The stock hit a high of $225.64, but shares were down to $155 on Wednesday. The total number of shares sold short as a percentage of the total shares available for public trading was up to 13% on Wednesday, Reuters reported, a jump of 5 percentage points over the previous session.
On Wednesday, Musk's net worth had fallen nearly $6 billion since the prior day of trading, according to Forbes, leaving Musk with a net worth of only $956 billion. At that amount, he still remains the world's richest person by a considerable margin. His net worth is three times that of the world's second-wealthiest person, Google's Larry Page who has a net worth of $286 billion.
Unlock unlimited access
