Elon Musk has once again crossed the $1 trillion wealth mark, returning to the trillionaire club as shares of Tesla and SpaceX rallied. According to the Bloomberg Billionaires Index, Musk’s net worth jumped by around $65 billion on October 5 to reach approximately $1.04 trillion.
The latest surge was driven by gains in both companies. SpaceX shares have risen about 13% since the beginning of October, while Tesla shares have gained around 6.7%. SpaceX also received a boost from renewed investor optimism following successful recent missions and positive views from analysts on the company’s valuation.
Musk had first entered the trillionaire club in June after SpaceX went public in a record-setting IPO. He later lost the status as Tesla and SpaceX valuations declined. The latest rally has now pushed his wealth above the trillion-dollar threshold again.
Tesla’s better-than-expected third-quarter vehicle deliveries have also supported investor sentiment. The company delivered 486,532 vehicles in the quarter, exceeding analysts’ expectations.
Musk’s wealth remains heavily linked to his stakes in Tesla and SpaceX, making his net worth highly sensitive to movements in both companies’ valuations. The latest rally has widened his lead over other billionaires, with Amazon founder Jeff Bezos remaining a distant second.
