Elon Musk has lost his trillionaire status within just two weeks, according to the Bloomberg Billionaires Index. As of Wednesday’s U.S. market close, his net worth fell to 957 billion dollars, down from 1.11 trillion dollars less than 14 days earlier. The decline followed a sharp global stock market downturn that heavily impacted technology shares, including those of SpaceX and Tesla.

Despite the loss, Musk remains the world’s richest individual, with wealth still far exceeding that of his closest competitors. He had become the first person to surpass one trillion dollars in net worth after the stock market debut of his rocket, satellite, and artificial intelligence company. The blockbuster initial public offering was priced at 135 dollars per share and opened trading at 150 dollars, giving the company a market value of over 1.77 trillion dollars.

Musk’s 42 percent ownership in SpaceX had initially pushed his paper wealth beyond the trillion-dollar mark, but the recent market slump reversed that milestone.