Musk's net worth fell by $79 billion in a single day. That's 9% of his net worth.
The biggest winner on the day of the sell-off turned out to be the owner of the stock that had been the worst performer in the S&P 500 this year
The market capitalization of two companies led by Elon Musk plummeted by $450 billion in two days / Photo: favoritesphoto / Shutterstock.com
The net worth of Tesla and SpaceX CEO Elon Musk fell by $79.4 billion in a single day on November 5, according to the Forbes Real-Time ranking, which is updated in real time based on market prices. Musk’s net worth fell by 9.1% to $789.5 billion. He remains the world’s richest businessman by a wide margin. Amazon founder Jeff Bezos ranks second with $378.9 billion; his net worth fell by 1.3% over the course of the day.
After Musk, the biggest decline in net worth on Thursday was seen by Michael Dell, CEO of computer and server manufacturer Dell—$22 billion, or 10.3%. Third on the list of losers is Nvidia CEO Jensen Huang, whose net worth fell by $15.8 billion, or 9.1%. Rounding out the top five are former Oracle CEO Larry Ellison (-$10.8 billion) and Meta CEO Mark Zuckerberg (-$8.4 billion). Huang ranks 9th on the Forbes list, but on the Bloomberg Billionaires Index, he fell out of the top ten—landing in 13th place.
Tesla shares fell nearly 11% on Thursday, while SpaceX shares dropped 9%. Their combined market capitalization fell by $450 billion over two trading days. Dell shares plummeted 15%, Nvidia shares fell 9%, Oracle’s by 7%, and Meta’s by 4%. The entire U.S. tech sector experienced a record-breaking sell-off: the Nasdaq 100 index lost $2.3 trillion in market capitalization and plummeted 6.4% in a single day.
Adam Furugi, CEO of the gaming advertising platform AppLovin, saw the biggest increase in his net worth on Thursday: $3 billion, or nearly one-third (+30%). AppLovin’s stock jumped 31% on Thursday, following a 10% gain on Wednesday. This comes despite the fact that, prior to this, AppLovin had been the worst-performing stock in the S&P 500 in 2026. On Wednesday, AppLovin reported a 55% increase in revenue for the third quarter—to $2.18 billion—exceeding analysts’ expectations of $2.07 billion, MarketWatch reported. Nevertheless, AppLovin’s stock is still trading 47% lower than it was at the beginning of the year.
In addition, the net worth of Japanese businessman Tadashi Yanai and his family (founder of Fast Retailing —owner of the Uniqlo clothing brand, +$2.7 billion), Ma Huateng, CEO of the Chinese tech giant Tencent (+$2.6 billion), French L’Oréal heiress Françoise Bettencourt Meyers and her family (+$2.3 billion), and Spanish Inditex (owner of Zara) co-founder Amancio Ortega (+$2.1 billion).
This article was AI-translated and verified by a human editor
