Topline
Elon Musk’s net worth climbed back above $1 trillion a day after he fell below the mark thanks to a rally in SpaceX and Tesla shares that boosted his fortune by $22 billion in a morning.
WASHINGTON, DC – OCTOBER 08: Tesla and SpaceX CEO Elon Musk attends the Golden Age of American Innovation Summit at the Institute of Peace on October 08, 2026 in Washington, DC. (Photo by Win McNamee/Getty Images)
Getty Images
Key Facts
Musk’s net worth rose to $1.012 trillion at around 10 a.m. on Friday, up 2.15% from the day prior when he lost $36 billion, causing him to briefly lose his trillionaire status.
Tesla stock was up over 2.5% at around 10:15 a.m. on Friday after China’s Passenger Car Association released data showing its Shanghai-built electric vehicles, which include Model 3 and Model Y units, rose 5% year-over-year.
SpaceX shares were up around 1.5% at 10:15 a.m. after the company agreed to buy a nationwide portfolio of licenses in the low-band spectrum, which is reportedly valued at $8 billion—a good sign for Tesla as it works to avoid a third year of declining annual vehicle deliveries.
Musk first became a trillionaire on June 12 when SpaceX went public, but fell below the mark days later, driven by SpaceX shares falling 31% in a multi-day selloff and new restrictions on $116 billion of his Tesla stock.
KEY BACKGROUND
News that Tesla’s China-made electric vehicle sales rose 5% from a year earlier, with Model 3 and Model Y deliveries built in its Shanghai factory up to 95,366 units, compared to 90,812 a year earlier, pushed the company’s stock up on Friday morning. The news comes days after the company reported 486,532 total deliveries in the third quarter, beating analysts’ estimates. Strong deliveries are crucial for Tesla right now as the company looks to avoid a third straight year of declines. Meanwhile, SpaceX announced it agreed to buy a nationwide low-band spectrum portfolio, which it said will “pave the way” for its cellular service “Starlink Mobile.” The 800 MHz spectrum will permit SpaceX’s Starlink Mobile to offer a wider range of mobile coverage, a big step for its cellular launch plans.
TANGENT
Musk’s fluctuating trillionaire status reflects the fact that his wealth is directly tied to volatile stock prices. He owns around 11% of Tesla and 38% of SpaceX, so daily stock movement can cause him to lose or gain billions of dollars in a day. After gaining his trillionaire status in June and losing it later that month, he briefly regained it again before losing it on July 1. He regained his trillionaire status on Monday, lost it on Thursday, and then regained it again on Friday morning, in line with SpaceX and Tesla stock movement.
FORBES VALUATION
Musk has gained, lost and regained his trillionaire status over the last five days, but he remains firmly in the No. 1 spot on Forbes’ Real-Time Billionaires list regardless of multibillion dollar drops. Amazon’s Jeff Bezos holds the No. 2 spot with an estimated net worth of $378.2 billion.
FURTHER READING
Musk Loses Trillionaire Status As SpaceX And Tesla Drop Wipes Out $36 Billion (Forbes)
Leave a comment