NEW YORK, June 25 -- Elon Musk has slipped below the US$1 trillion (RM4.2 trillion) net worth mark less than two weeks after becoming the world's first trillionaire, as a sharp retreat in technology stocks wiped hundreds of billions of dollars off his paper fortune.

According to the Bloomberg Billionaires Index, Musk's wealth stood at US$957 billion on Tuesday, down from about US$1.11 trillion shortly after SpaceX's blockbuster stock market debut earlier this month.

The reversal came as investors pulled back from high-flying technology stocks amid growing concerns over the long-term returns on artificial intelligence spending, persistent high interest rates and lofty market valuations.

The world's richest person first crossed the trill...