Elon Musk is a trillionaire again. His fortune rose by about USD 65 billion on Monday to USD 1.04 trillion, according to the Bloomberg Billionaires Index.
The jump came as the value of his stakes in SpaceX and Tesla climbed. It is the first time in three months that his net worth has run to 13 digits. Musk, 55, became the world’s first trillionaire in June, when SpaceX shares surged after its record-breaking initial public offering.
What drove the jump
SpaceX stock has risen 13 per cent since the start of October. Tesla has gained 6.7 per cent over the same period. SpaceX shares have now rebounded about 58 per cent from their low in early August, and they touched their highest level since mid-June.
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Two things lifted sentiment. On Monday, Morgan Stanley analysts called SpaceX one of the cheapest ways to play the strong optionality of the space and intelligence sector. Last week, Tesla reported better-than-expected sales for the third quarter.
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The rally has also been helped by progress on Starship and by the group’s artificial intelligence business, market reports said. SpaceX today spans space launch, AI and social media, which gives investors several ways to value it.
The slide in between
Musk’s first trillion-dollar milestone did not last. SpaceX shares fell soon after the IPO as investors questioned the company’s sky-high valuation, and the crown went with them.
By late July, his wealth had dropped by more than USD 600 billion from its peak. That drawdown was larger than the entire net worth of anyone else on Bloomberg’s list of the world’s 500 richest people. Musk himself is the only exception.
Where the money sits
Almost all of it is in two companies. Musk’s holdings in SpaceX and Tesla make up more than 98 per cent of his net worth, the index shows. That kind of concentration cuts both ways, and the past four months have shown how fast the number moves in either direction.
For scale, only a handful of listed companies are worth more than USD 1 trillion. Musk’s personal fortune now sits in that league. He remains the world’s richest person. How long he stays above the trillion-dollar line this time will depend on the same two stocks that put him there.