diff --git a/docs/docs/resources/changelog.md b/docs/docs/resources/changelog.md
index 49cc58e81..4d009ae4d 100644
--- a/docs/docs/resources/changelog.md
+++ b/docs/docs/resources/changelog.md
@@ -23,6 +23,7 @@ During the alpha period, things might break! We take breaking changes very serio
 - Fixed a bug in `<wa-rating>` when using `precision`
 - Fixed a bug in `<sl-rating>` that allowed tabbing into the rating when readonly
 - Fixed a bug in `<wa-relative-time>` where the title attribute would show with redundant info
+- Fixed a bug in `<sl-select>` that caused the placeholder to display incorrectly when using placeholder and multiple
 - Fixed a bug in `<wa-tooltip>` that caused a memory leak in disconnected elements
 - Fixed a bug in `<wa-select>` that prevented label changes in `<wa-option>` from updating the controller
 - Fixed a bug in `<wa-carousel>` that caused interactive elements to be activated when dragging
diff --git a/src/components/select/select.styles.ts b/src/components/select/select.styles.ts
index e7f9c1575..344d3a2f5 100644
--- a/src/components/select/select.styles.ts
+++ b/src/components/select/select.styles.ts
@@ -164,7 +164,7 @@ export default css`
     margin-inline-end: var(--wa-space-s);
   }
 
-  .select--small.select--multiple .select__prefix::slotted(*) {
+  .select--small.select--multiple:not(.select--placeholder-visible) .select__prefix::slotted(*) {
     margin-inline-start: var(--wa-space-s);
   }
 
@@ -192,7 +192,7 @@ export default css`
     margin-inline-end: var(--wa-space-m);
   }
 
-  .select--medium.select--multiple .select__prefix::slotted(*) {
+  .select--medium.select--multiple:not(.select--placeholder-visible) .select__prefix::slotted(*) {
     margin-inline-start: var(--wa-space-m);
   }
 
@@ -220,7 +220,7 @@ export default css`
     margin-inline-end: var(--wa-space-l);
   }
 
-  .select--large.select--multiple .select__prefix::slotted(*) {
+  .select--large.select--multiple:not(.select--placeholder-visible) .select__prefix::slotted(*) {
     margin-inline-start: var(--wa-space-l);
   }