Cointime

Cointime

Download App
iOS & Android
Home / Point

Elon Musk's Net Worth Drops $340 Billion in 8 Days, No Longer a Trillionaire

On June 24, according to reports, the world's first trillionaire sat on his 'throne' for less than two weeks before 'falling from grace.' As of June 24, Elon Musk's net worth has fallen below $1 trillion. According to the Bloomberg Billionaires Index, Musk's current net worth is $957 billion, a significant decrease of $340 billion from the peak of $1.3 trillion just eight days ago. However, even after this decline, Musk still remains far ahead on the wealth rankings.

Comments

All Comments

Recommended for you

  • U.S. and Brent Crude Oil Prices Both Drop by 2%

    On June 24, WTI crude oil fell to $72 per barrel, down 2.27% for the day; Brent crude oil also declined by 2%, currently priced at $75.07 per barrel.

  • Wuhan Launches 1 Billion Yuan AI Innovation Fund

    On June 24, Wuhan's first municipal-level artificial intelligence innovation fund—the Wuhan Wuchuang Future Intelligent Venture Capital Fund—was officially launched, with a total scale of 1 billion yuan. The fund is jointly funded by Wuchuang Investment, Wuhan Fund, and the Hubei Province Humanoid Robot Mother Fund, focusing on cutting-edge fields such as artificial intelligence, humanoid robots, and embodied intelligence. It aims to support core technology research and development and industrialization projects, particularly in humanoid robot systems, high-precision sensors, and intelligent chips.

  • JPMorgan Raises S&P 500 Year-End Target to 7800 Points

    On June 24, JPMorgan raised its year-end target for the S&P 500 index to 7800 points, stating that the market outlook is approaching a 'clear skies' scenario.

  • Spot Silver Drops Over 2%

    On June 24, spot silver fell over 2% during the day, currently reported at $60.30 per ounce.

  • Silver Futures and Spot Prices Fall Below $60

    On June 24, spot silver dropped below $60 per ounce, reaching a new low since December of last year, with a daily decline of 2.51%; New York silver futures also touched down at $60 per ounce, experiencing a daily drop of 3.34%.

  • Spot Silver Falls Over 1%

    On June 24, spot silver dropped by $1 during the day, currently priced at $60.53 per ounce, a decrease of 1.63%.

  • SMIC Issues 547 Million Shares to Acquire 49% Stake in SMIC North

    On June 24, SMIC announced that it would issue 547 million shares to five shareholders of SMIC North, including the National Integrated Circuit Fund, to purchase their 49% stake in SMIC North at a price of 74.2 yuan per share. The newly issued shares were registered with the Shanghai branch of China Securities Depository and Clearing Co., Ltd. on June 23, 2026. The transfer procedures for the underlying assets were completed on June 12, 2026, and the 49% stake in SMIC North has been officially registered under SMIC.

  • BlackRock Deposits $256.8 Million in BTC and ETH with Coinbase

    According to Onchain Lens monitoring, BlackRock has deposited 2,700 BTC worth $168.63 million and 52,956 ETH worth $88.17 million into Coinbase, with the possibility of further deposits.

  • U.S. Government Invests in Former Intel CEO's Chip Manufacturing Startup xLight, Plans to Raise $350 Million

    On June 24, it was reported that xLight, a chip manufacturing startup supported by the U.S. government, is negotiating to raise $350 million in funding. Investment firms Boardman Bay Capital Management and Bain Capital are expected to lead this round of financing. The U.S. government has invested $150 million in xLight through the CHIPS and Science Act, potentially making it one of the major shareholders. xLight's total funding has reached approximately $200 million. Former Intel CEO Pat Gelsinger serves as the executive chairman of xLight. Gelsinger's venture capital firm, Playground Global, invested in xLight in 2025. xLight plans to lobby ASML, TSMC, Intel, and Micron Technology to participate in this financing round. xLight is dedicated to developing alternative light sources for extreme ultraviolet (EUV) lithography technology to reduce the manufacturing time and costs of advanced server chips. ASML CEO Christophe Fouquet revealed that ASML is collaborating with xLight for technology demonstrations, but noted that it remains a long journey. xLight aims to build its first prototype site in Albany, New York, with the goal of completing its first usable light source by 2028. The company has signed a non-binding project financing agreement worth $4.2 billion with lenders, intended for the construction of the first seven facilities. Another startup, Substrate, is also developing X-ray-based lithography technology, directly competing with ASML. Since early 2025, the U.S. government has made at least 12 equity investments in private companies, focusing on shifting key links in the supply chain for AI server chips back to the U.S. This includes two semiconductor investments involving Intel and xLight.

  • Spot Silver Falls Over 50% from January Highs

    On June 24, spot silver has fallen over 50% from its January peak, currently priced at $60.83 per ounce, with a daily decline of more than 1% and a cumulative drop of over 19% in June.

Daily Must-Read

Popular Activities

RaveDAO at Terra Solis by Tomorrowland: A Female-Led Techno Night Where Web3 Culture Converges

RaveDAO at Terra Solis by Tomorrowland: A Female-Led Techno Night Where Web3 Culture Converges

April 30 - April 30
Dubai

Popular Tags

Cointime
News
Contents
RSS
Company