The net worth of American entrepreneur Elon Musk fell below $1 trillion due to a decline in the value of SpaceX shares, Forbes magazine said.

Musk's net worth was estimated at $977.2 billion after SpaceX quotes dropped by more than 3% on Tuesday.

On June 12, Musk became the world's first trillionaire after SpaceX went public on the Nasdaq stock exchange. A few days later, he lost this status. On October 5, the businessman's fortune once again exceeded $1 trillion amid rising share prices for Tesla and SpaceX.