California, 24 June

Elon Musk has lost his status as the world's first trillionaire after a sell-off in Tesla and SpaceX shares pushed his net worth below the 13-figure mark, according to the Bloomberg Billionaires Index.

The SpaceX founder's net worth has fallen to $957 billion, the index showed, weeks after he became the world's richest person to ever cross the trillion-dollar threshold.

Musk had achieved trillionaire status earlier this month following SpaceX's initial public offering, which valued the rocket company at more than $2 trillion. The listing triggered a sharp rally, with retail investors buying heavily into the company's space and technology ambitions.

That momentum has since reversed. SpaceX shares closed at around $156 on Tuesday, down more than 30 per cent from their intraday peak of $225 on 16 June. The stock remains above its 12 June debut price of $150, and is trading about 10 per cent higher than its IPO price of $135.

Since last week, SpaceX has shed about $600 billion in market value, amid a broader sell-off in technology stocks.

At its peak, the rally had briefly pushed SpaceX past Amazon and Microsoft to become the world's fourth most valuable publicly listed company.

Despite the drop, Musk's fortune remains far ahead of the world's second-richest person, Google co-founder Larry Page. The gap between the two, roughly $660 billion, is greater than the entire net worth of more than two Jeff Bezoses.