Musk loses $53.9 billion in a week as net worth falls to $849.7 billion

Elon Musk’s fortune fell by $53.9 billion in one week, leaving the world’s richest person with an estimated net worth of $849.7 billion, according to the Forbes Real-Time Billionaires List. The drop was 5.97% of his wealth in seven days.

Forbes data updated on Sunday, November 8, 2026, showed Musk’s fortune fell from about $903.6 billion a week earlier. The decline came during a turbulent period for technology stocks, especially companies linked to artificial intelligence, electric vehicles and space exploration. Despite the loss, Musk remains one of the wealthiest individuals in history. His fortune is largely tied to ownership stakes in Tesla, SpaceX and other businesses.

Still far ahead of Bezos

Even after the loss, Musk is $471.6 billion ahead of Amazon founder Jeff Bezos, who ranks second with an estimated net worth of $378.1 billion. Google co-founder Larry Page is third with $236.9 billion. Sergey Brin follows with $218.1 billion, while Meta CEO Mark Zuckerberg has $209.7 billion.

Sharp swings in Musk’s fortune

The weekly decline comes weeks after Musk’s fortune surged by $88 billion in a single day on October 21, pushing his estimated net worth to $1.013 trillion. The jump followed renewed investor optimism around SpaceX’s financial performance and expectations ahead of Tesla’s quarterly earnings announcement.

Earlier in July, Musk lost $45.3 billion after SpaceX shares declined following a setback involving its Starship launch programme. That drop pushed his fortune below $800 billion, compared with a peak of about $1.45 trillion recorded in June.

SpaceX IPO and the trillionaire milestone

Musk became the world’s first trillionaire in June after SpaceX’s Nasdaq debut. His fortune reached about $1.1 trillion after the aerospace company’s shares opened above their initial public offering price. The milestone was short-lived. By June 24, his net worth had fallen by $118 billion to $957 billion, largely after an adjustment to how Bloomberg calculated the value of unvested Tesla shares linked to his compensation package.

Musk recovered part of those losses in August. His fortune increased by $30.7 billion in 24 hours to $894.9 billion as valuations across his major holdings improved.