Elon Musk's fortune exceeds $1 trillion again
Quick Look
- Elon Musk's fortune crossed the $1,000 billion threshold for the third time in four months on Monday October 5, driven by the rise in SpaceX shares on Wall Street, according to Forbes.
- His assets have increased by $30.6 billion since Friday, while SpaceX stock gained more than 5% after a favorable rating from Morgan Stanley and the success of Starship's orbital flight.
- Tesla also contributed with better-than-expected deliveries in the third quarter.
AI-generated summary
Why It Matters
Elon Musk's fortune already reached the $1 trillion threshold in June when SpaceX went public, before losing that status twice due to the volatility of SpaceX stock.
A trillion dollars, for the third time in four months. This Monday, October 5, Elon Musk's fortune crossed this threshold again, driven by the rise in SpaceX shares on Wall Street. The Tesla boss won this title of “trillionaire” in June, when SpaceX went public, before losing it twice.
Elon Musk's fortune: $30 billion earned since Friday
The counter is maintained by Forbes. As of 10:15 a.m. New York time on Monday, the magazine estimated Elon Musk's assets at $1,000 billion, $30.6 billion more than Friday, based on its real-time count. Already on Friday, he had taken 61 billion in one session.
The engine is called SpaceX. The stock gained more than 5% at the start of the session, to $167, after a note from Morgan Stanley deeming the stock undervalued and Starship's first successful orbital flight last week. Tesla adds its share, with 486,532 deliveries in the third quarter, better than expected.
Behind him, the void. Jeff Bezos, the world's second largest fortune, is worth $371.5 billion.
A “trillionaire” eclipsed since SpaceX’s IPO
This title hangs by a thread, that of SpaceX’s price. Introduced on June 12 at $150, the stock propelled Elon Musk to $1.45 trillion. Twelve days later, she had lost 31% and he had lost his status. Return above threshold on June 29, relapse on July 1. At the end of July, SpaceX had melted in half and its founder's fortune fell below 700 billion.
Looking for the connection with crypto? He's in the treasury. SpaceX held 18,712 bitcoins before its IPO, or about $1.6 billion at current prices. Elon Musk has earned nineteen times that amount since Friday.
A fortune in paper remains a fortune in paper. That of Elon Musk has already varied by more than 700 billion dollars between its peak in June and its trough in July. At $167, SpaceX stock is only 11% above its June 12 IPO price.
What to Watch
AI outlook — possibilities, not facts
SpaceX stock will remain volatile in the coming weeks, with significant swings tied to Starship test flight results and analyst assessments.
Likely · Within weeks
Open Questions
- How long can Elon Musk maintain his trillionaire status given the historic volatility of SpaceX stock?
- What will be the long-term impact of SpaceX's valuation on the aerospace and crypto sectors?
