American entrepreneur Elon Musk's fortune has dropped to $957 billion, losing his trillionaire status, according to the Bloomberg Billionaires Index (BBI). The index is calculated based on the share prices of companies in which billionaires own shares.
As a result of the latest changes, the businessman's wealth decreased by 118 billion dollars. On June 12, Musk became the first trillionaire in history thanks to SpaceX's initial public offering (IPO). The company raised a record $75 billion through its IPO.
Before the IPO, Musk's net worth was estimated at $750 billion.
