Elon Musk, the world’s wealthiest individual, has slipped from trillionaire status this week as shares of SpaceX tumbled from the record highs that briefly pushed his fortune into 13-figure territory following the company’s public debut earlier this month.

SpaceX stock recently changed hands at approximately $152, roughly 30% below its post-IPO peak, erasing a significant portion of the paper gains that had propelled Musk’s net worth past the $1 trillion mark just two weeks ago.

According to the Bloomberg Billionaires Index, Musk’s net worth stood at around $946 billion as of Thursday’s close, with his SpaceX stake valued at approximately $737 billion and his Tesla holdings at $155 billion. His combined stakes in Neuralink and The Boring Company account for a smaller portion of his overall fortune, totaling $6.75 billion. Forbes’ real-time tracker placed his net worth at $941 billion as of Thursday afternoon.

The decline reflects the inherent volatility of paper wealth, which can fluctuate significantly based on daily stock movements. Musk’s fortune remains concentrated in his equity holdings rather than liquid assets.

The broader technology sector selloff this week has also reduced the fortunes of other centibillionaires. Oracle’s Larry Ellison saw his net worth drop by an estimated $8 billion on Thursday, while Google co-founders Larry Page and Sergey Brin each experienced declines exceeding $1 billion, according to Bloomberg data.