Musk’s Trillionaire Status Disappears, And Won’t Be Back Soon
Elon Musk's net worth plummeted from a staggering $1 trillion to a more modest $900 billion as Tesla and SpaceX experienced declines. SpaceX's Starlink satellite constellation, operating in 160 countries, remains dominant, while Musk's artificial intelligence venture, xAI, with its Grok product, struggles to compete against industry giants OpenAI and Anthropic.
Musk's xAI has leased data center capacity to Alphabet and Anthropic, generating revenue but showing signs of retreat from the AI race. An analysis by 24/7 Wall St. has ranked the top 10 stocks to buy right now, with Google (GOOG) notably absent. Musk's ambitious plan to launch AI data centers into space could potentially sway market share, though it faces regulatory challenges.
Tesla's vehicle sales may see a downturn this year, and the company's other ventures, such as robotics and self-driving cars, show little progress. Consequently, it seems highly unlikely that Musk will again attain trillionaire status this year.
Written by urgent.news from Yahoo Finance's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
