Elon Musk has once again crossed the $1 trillion wealth mark, after a strong rise in SpaceX and Tesla shares lifted his fortune to about $1.04 trillion, according to the Bloomberg Billionaires Index.
Musk’s wealth jumped by roughly $65 billion on Monday as SpaceX shares climbed 7.63% to $171.09, their strongest level since June. SpaceX has gained about 13% since the beginning of October, while Tesla has risen around 6.7% over the same period.
The two companies remain the biggest drivers of Musk’s fortune, with his holdings in SpaceX and Tesla accounting for more than 98% of his total wealth, according to Bloomberg.
Forbes also placed Musk’s fortune at around $1 trillion, putting him comfortably ahead of Amazon founder Jeff Bezos, whose estimated wealth stood at about $371.5 billion.
Musk first entered the trillionaire club in June after SpaceX began trading publicly. The company’s market value surged following its listing, pushing Musk’s wealth to an estimated peak of around $1.32 trillion as SpaceX shares reached $225.64.
That milestone was short-lived. A technology market sell-off sent both SpaceX and Tesla lower, taking Musk’s fortune below $1 trillion within weeks. His wealth subsequently suffered one of the largest declines among the world’s richest individuals.
The latest recovery has been supported by several developments. SpaceX’s successful Starship orbital flight helped improve investor sentiment, while analysts at Morgan Stanley reportedly viewed the company’s shares as undervalued.
Tesla has also provided a boost after its latest quarterly vehicle deliveries exceeded market expectations, contributing significantly to Musk’s wealth increase.
SpaceX’s valuation has also been influenced by its ownership of xAI, Musk’s artificial-intelligence company, which was merged into the space company. Bloomberg has valued the combined business at around $1.8 trillion following its public listing.
Musk remains the world’s richest person on both the Bloomberg and Forbes wealth rankings, although his position remains highly exposed to movements in SpaceX and Tesla shares. A significant decline in either company could once again push his fortune below the trillion-dollar threshold.
