On October 9, 2026, Livemint reported that Elon Musk has slipped back below the trillion-dollar mark, a fall that came not from anything at his own companies but from a broad sell-off in technology stocks. Such moves land first on the very rich, whose fortunes are bound up in the firms they lead or founded, and they remind us how quickly paper wealth can rise and recede with the mood of a market. The same decline also pulled billions from Nvidia's Jensen Huang and Oracle's Larry Ellison, tying together the fates of the companies that power the current build-out of artificial intelligence.
Musk Loses Trillionaire Status Again as IT Stock Sell-Off Cuts $15 Billion From Huang and Ellison
Nothing at his own companies moved. The whole sector did.
Mark
Musk dropped below a trillion dollars again. Why is that a story?
Mimi
Because it shows how tied these fortunes are to the market's mood. Nothing happened at his companies specifically. A broad IT sell-off did it.
Mark
And Huang and Ellison were caught in the same move?
Mimi
Yes. The reporting says they lost about $15 billion, and both men's wealth rides on tech stocks.
Luke
Careful with that number, though. One summary says $15 billion together, another reads like $15 billion each. The material doesn't settle it.
Mark
Fair. What else is missing?
Luke
How far the IT stocks actually fell, what triggered the sell-off, and Musk's current net worth. None of that is in what we have.
Mimi
What we can say is the cause is sector-wide, not about any one company.
Mark
So what do we watch?
Luke
Whether the sell-off deepens or stabilises. Paper wealth like this can swing back just as fast.
El Pulso
- Elon Musk has dropped below the trillionaire line for a second time, and the sudden swing is unsettling for anyone tracking the richest people on earth.
- A sector-wide slide in IT shares, not any company-specific news, is driving the losses and rippling across the tech elite.
- Nvidia's Jensen Huang and Oracle's Larry Ellison have together shed roughly $15 billion, with their fortunes moving in lockstep with the sell-off.
- Investors are waiting to see whether the technology decline deepens or steadies, a verdict that will decide if these billionaire wealth swings persist.
On October 9, 2026, Livemint reported that Elon Musk has slipped back below the trillion-dollar mark, a fall that came not from anything at his own companies but from a broad sell-off in technology stocks. Such moves land first on the very rich, whose fortunes are bound up in the firms they lead or founded, and they remind us how quickly paper wealth can rise and recede with the mood of a market. The same decline also pulled billions from Nvidia's Jensen Huang and Oracle's Larry Ellison, tying together the fates of the companies that power the current build-out of artificial intelligence.
Elon Musk is no longer a trillionaire. According to Livemint's report, published October 9, 2026, the Tesla and SpaceX chief has fallen back below the trillion-dollar mark for the second time, as a sell-off in information technology stocks dragged down fortunes across the sector.
The drop had nothing to do with news at Musk's own companies. It came from a broad decline in IT shares, the kind of move that strikes the richest people first, since so much of their wealth sits in the stock of the firms they lead or founded.
Musk was not alone. Nvidia's Jensen Huang and Oracle's Larry Ellison were also hit, with losses put at roughly $15 billion. The summary leaves unclear whether that figure is combined or each, but the pairing makes sense: Huang's chips sit at the heart of the AI build-out, and Ellison's Oracle supplies the cloud and database infrastructure that build-out relies on.
The reporting, by Mint Assistant Editor Sanchari Ghosh, does not say how far the IT index fell, what triggered the sell-off, or where Musk's net worth now stands. What it does establish is the direction and cause.
The question now is whether the sell-off deepens or steadies. If technology shares recover, these swings may reverse as quickly as they came. If the decline continues, the trillionaire threshold will keep shifting in and out of reach.
Elon Musk is no longer a trillionaire. According to Livemint's reporting, published on October 9, 2026, the Tesla and SpaceX chief has slipped back below the trillion-dollar mark for the second time, after a sell-off in information technology stocks pulled down fortunes across the sector.
The drop was not tied to anything specific at Musk's own companies. The reporting attributes the shift to the broad decline in IT shares, which is the kind of move that lands on the richest people first because so much of their wealth sits in the stock of the companies they lead or founded.
Musk was not the only one affected. Nvidia's Jensen Huang and Oracle's Larry Ellison were also hit. The reporting puts their losses at roughly $15 billion, a figure that covers the two men together rather than each individually, according to the editorial summary of the piece. A separate summary line describes it as about $15 billion apiece, so the exact split is not settled in the material available here.
The pairing is telling. Huang runs the company whose chips have become the centerpiece of the artificial intelligence build-out, and Ellison's fortune is tied to Oracle, which sells the cloud and database infrastructure that build-out depends on. When technology shares fall together, both men feel it at once.
The article comes from Sanchari Ghosh, an Assistant Editor at Mint who covers personal finance, digital assets and geopolitics. The text available here carries her byline and biography but few further figures, so it does not say how far the IT index fell, what set off the sell-off, or what Musk's net worth now stands at.
What the reporting does establish is the direction and the cause: a sector-wide decline in technology stocks, not a company-specific event, took Musk under the trillion-dollar line again and removed billions from two of his fellow tech billionaires.
The thing to watch is whether the sell-off deepens or steadies. If technology shares recover, these swings may reverse as quickly as they arrived. If the decline continues, the trillionaire threshold will keep moving in and out of reach, and so will the rankings below it.
Quieres la nota completa?
Lee el original en Livemint ↗
Technology