Elon Musk’s brief reign as the world’s first trillionaire has come to an end after a sharp pullback in SpaceX shares erased hundreds of billions of dollars in paper wealth, highlighting just how quickly fortunes tied to public markets can change. After SpaceX’s blockbuster IPO propelled Musk past the $1 trillion milestone, a broader tech selloff and cooling investor enthusiasm sent the stock lower, pushing his net worth back below the threshold while he remained the world’s richest person.