India, July 28 -- Elon Musk has once again grabbed global attention, but this time because of a sharp decline in his net worth. The world's richest person's net worth has fallen below the $700 billion mark after a prolonged selloff in SpaceX shares. The stock has lost nearly half of its value since reaching a record high in June, dragging down Elon Musk's wealth and ending his position as the world's first trillionaire.

Despite the correction, Elon Musk remains comfortably ahead of every other billionaire, while investors are closely watching whether SpaceX shares can recover ahead of the company's first earnings report as a public company.

Elon Musk Net Worth

According to the latest estimates, Elon Musk's fortune has slipped to around...