American tech entrepreneur Elon Musk became history’s first trillionaire on June 12, holding the status for 12 days. Now, driven by the success of his companies and rising share prices for SpaceX and Tesla, Musk has returned to trillionaire status as of October 5.
According to Miraz.TV, citing the Forbes Real Time Billionaires ranking, the American businessman’s net worth has once again exceeded 1 trillion dollars. This occurred after shares of his companies—SpaceX and Tesla—surged sharply immediately following the opening of the stock market on Monday.
According to Forbes, on October 5, 55-year-old Musk’s wealth increased by 30.6 billion dollars compared to Friday’s close. Meanwhile, the net worth of Amazon CEO Jeff Bezos, who ranks second among the wealthiest individuals, stands at 371.5 billion dollars—nearly three times less than Musk.
The magazine notes that Tesla’s third-quarter sales exceeded analysts’ forecasts. This contributed to the growth of Musk’s wealth, which surged by 61 billion dollars on Friday alone. Tesla shares continued their upward trajectory on Monday morning.
The rise in SpaceX shares is linked to an optimistic forecast from Morgan Stanley, with analysts stating that the aerospace company’s share value remains below its potential. Additionally, the successful orbital launch of the Starship spacecraft played a role in the stock growth.
Musk’s announcement that SpaceXAI will be renamed SpaceXSI further heightened investor interest. This decision followed an executive order by President Donald Trump replacing the term “artificial intelligence” with “super intelligence” in official documents.
Musk is the largest shareholder of SpaceX and serves as the company’s chairman, CEO, and chief technology officer. In February, he merged xAI and SpaceX. Bloomberg and The Wall Street Journal reported, citing sources, that the combined market capitalization of the companies reached 1.25 trillion dollars.
Following the SpaceX IPO, the businessman became history’s first trillionaire on June 12, maintaining the status for roughly two weeks. At the time of the IPO, the company’s market capitalization stood at 1.77 trillion dollars.
