Elon Musk is back above $1 trillion. The Bloomberg Billionaires Index put his fortune at $1.04 trillion after a one-day jump of about $65 billion on Monday, the first time in three months the total has needed 13 digits.
Key Highlights
- Bloomberg puts Elon Musk’s fortune at $1.04 trillion after a one-day jump of about $65 billion.
- His stakes in SpaceX and Tesla account for more than 98 percent of his net worth.
- SpaceX rose 7.63 percent on Monday to close at $171.09, its highest since mid-June.
- Tesla added about 2 percent after third-quarter deliveries beat estimates.
- SpaceX has rebounded about 58 percent from its August low.
- Musk first became a trillionaire when SpaceX went public in June.
SpaceX and Tesla Drive Musk’s Fortune
The move is almost entirely two stocks. Bloomberg says his stakes in SpaceX and Tesla account for more than 98 percent of his net worth, so a rally in either shows up immediately as paper wealth. It is not cash in an account.
SpaceX shares are up 13 percent since the start of October. Tesla is up 6.7 percent. On Monday itself, SpaceX rose 7.63 percent to close at $171.09, its highest since mid-June, and Tesla added about 2 percent after third-quarter deliveries beat estimates.
From Record IPO to Post-IPO Slump
That is a recovery, not a new listing. SpaceX went public in June in what was described as the largest initial public offering on record, raising about $86 billion and valuing the company at more than $1.77 trillion at the offer price.
Musk, who owns about 42 percent, became the first person the index had ever counted as a trillionaire. Bloomberg put him at $1.11 trillion on listing day, 12 June.
The stock then fell on worries about the valuation. His fortune briefly peaked above $1.4 trillion and later gave back more than $600 billion from that high.
From an August low, SpaceX has now rebounded about 58 percent. Investopedia said the latest rally has the shares nearly 30 percent above an IPO price of $135, while Tesla is still down about 15 percent for the year.
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Morgan Stanley Call Lifts SpaceX
Monday’s SpaceX bid got a push from Morgan Stanley, which called the stock one of the cheaper ways to buy “the strong optionality” of the space and intelligence sector.
The rebound is also being tied to the company’s artificial-intelligence business and to progress on Starship.
Forbes’ real-time list had Musk in the same range late Monday, about $1.03 trillion to $1.04 trillion, more than $600 billion ahead of Jeff Bezos.
Why the Trillionaire Title Is Unstable
The threshold is unstable by design. Because almost all of the number sits in two listed companies, a few sessions can put the title on or take it off.
Musk held it in June, lost it over the summer, and has it again because SpaceX has clawed back part of the post-IPO slump.
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