{
  "id": 4897968,
  "title": "Elon Musk, Larry Ellison and other billionaires lose $23.5 billion in 24 hours",
  "url": "https://urgent.news/2026/09/01/elon-musk-larry-ellison-and-other-billionaires-lose-23-5-billion-in",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-01T16:38:52.000Z",
  "source": {
    "name": "Nairametrics",
    "slug": "nairametrics",
    "url": "https://nairametrics.com/2026/09/01/elon-musk-larry-ellison-and-other-billionaires-lose-23-5-billion-in-24-hours/"
  },
  "original_language": "en",
  "account": "Elon Musk, Larry Ellison, Michael Dell and Jeff Bezos all saw their net worths plunge by a combined $23.5 billion within a single 24-hour period, according to the Forbes Billionaires Index. The decline was attributed to fluctuations in technology stocks on the market. The report, based on the fortunes of the world's wealthiest individuals, highlights the impact of investor sentiment on these tech titans. Larry Ellison, co-founder of Oracle, faced the steepest decline, watching his fortune drop by an estimated $6.5 billion, or 3.35%. The mixed performance of technology stocks was due in part to ongoing debates over the sustainability of investments in artificial intelligence. While some tech giants, like Microsoft, Amazon and Alphabet, have poured billions into AI, Tesla's involvement in the sector has been comparatively modest, with a $2 billion investment in SpaceX. Despite this, SpaceX's investment has already surged by around $1 billion, contributing to Tesla's overall earnings. Tesla's stock has been notably volatile, rebounding from a 26% drop in July to an 18% gain in August. Musk's recent loss follows a record-breaking $30.7 billion increase in his net worth just weeks prior, pushing him back to the top of the global billionaire rankings. His wealth is heavily tied to Tesla and SpaceX, with SpaceX's recent IPO priced at $135 per share, valuing the company at an estimated $1.8 trillion.",
  "summary": "Elon Musk, Larry Ellison, Michael Dell and Jeff Bezos recorded a cumulative $23.5 billion decline in their net worths in 24 hours, following movements in technology stocks in the market. The post Elon Musk, Larry Ellison and other billionaires lose $23.5 billion in 24 hours appeared first on Nairametrics .",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Yahoo Finance",
        "title": "Remember Elon Musk’s warning that America will ‘1,000%’ go bankrupt? Well, US debt just soared through $40T",
        "url": "https://urgent.news/2026/09/01/remember-elon-musks-warning-that-america-will-1-000-go-bankrupt-well",
        "published": "2026-09-01T11:15:00.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}