Summary: Renewed geopolitical tensions, worsening economic uncertainty, and increased expectations of US interest rate hikes have driven investors toward safe havens.

In less than a month, American billionaire Elon Musk was unable to maintain his title as the world's first trillionaire. Since holding the title, he lost it twice: first on the session of June 24 last, and second this week, as severe losses in SpaceX shares brought Musk back to billionaire status.

The recent losses come amid mounting pressure on markets and high-risk assets as investors turn to safe haven assets, especially after renewed geopolitical tensions and widening economic uncertainty, in addition to an increase in members calling for tighter monetary policy and interest rate hikes within the US Federal Reserve.

According to an Independent Arabia tally, the fortunes of the world's top five billionaires recorded losses of 12.3 percent in the last 24 hours of trading, with losses amounting to about $263 billion, as their combined wealth dropped from $2.126 trillion at the close of trading on Friday to about $1.863 trillion.

Elon Musk loses trillionaire title

Topping the list of losing billionaires is the founder of electric vehicle giant Tesla, Elon Musk, who had managed to seize the title of the world's first trillionaire in the recent period, as his wealth surged 64.2 percent, gaining about $398 billion after his net worth jumped from $620 billion at the start of 2026 to about $1.032 trillion in mid-June.

But in the last 24 hours of trading, his wealth recorded losses of 23.25 percent after losing $240 billion.

It fell from $1.032 trillion to about $792 billion. With these losses, the world's first trillionaire accounted for 91.2 percent of the total losses of the top five richest people in the world.

Elon Musk's losses came after SpaceX shares fell to about $134, below the IPO price of $135, after having jumped to $225 following the initial listing in June, in one of the strongest IPO debuts in US markets.

This means the stock has given up almost all of its gains since listing, a sign analysts see as the end of the 'initial enthusiasm' phase that typically accompanies major offerings.

In the session of June 24 last, Elon Musk's wealth had dropped by more than $300 billion as a wave of selling of SpaceX shares continued for several consecutive sessions, erasing the stock's gains since its record IPO.

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During this session, SpaceX shares fell 16.4 percent, breaking the stock price below $155.

The net worth of American billionaire Elon Musk is directly linked to the value of his stakes in his companies, foremost among them Tesla, SpaceX, xAI, X, Neuralink, and The Boring Company.

Losses haunt the world's richest people

American billionaire Larry Page came in second on the list of the world's richest, with his wealth declining 2.3 percent, losing $7 billion, as his fortune fell from $304 billion at the close of Friday's trading to $297 billion.

Larry Page is a co-founder of Alphabet, the parent company of Google, the world's largest search engine operator.

American billionaire Sergey Brin ranked third on the list of the top 10 richest people in the world, with his wealth declining 2.12 percent, losing about $6 billion, as his fortune fell from $282 billion to about $276 billion currently. Brin is a co-founder of Google and a prominent figure in the tech sector.

Billionaire Jeff Bezos ranked fourth, with his wealth falling 1.1 percent, losing $3 billion, as his fortune dropped from $272 billion to about $269 billion. Jeff Bezos is the founder of Amazon and is considered one of the most prominent figures in tech.

After holding fourth place at the start of the year, Facebook founder Mark Zuckerberg moved to seventh place, then recently returned to fifth. In the last 24 hours of trading, his wealth fell three percent, losing about $7 billion, as his fortune dropped from $236 billion at the close of Friday to about $229 billion. Zuckerberg is the co-founder and CEO of Meta Platforms and is one of the leading figures in the tech sector.