SpaceX shares jump 7.6%, lifting Musk's net worth back above $1 trillion
In short
SpaceX shares rose about 7.6% on Monday, pushing Elon Musk's net worth back above $1 trillion, according to the Bloomberg Billionaires Index, which put his wealth at $1.04 trillion after a $65 billion one-day gain. He first crossed the threshold after SpaceX's June listing but lost the title as the shares fell. A Morgan Stanley report rating SpaceX a buy with a $300 target price and better-than-expected Tesla deliveries supported the rebound.
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Elon Musk's net worth climbed back above $1 trillion after SpaceX shares rose about 7.6% on Monday, reaching their highest level since mid-June, according to IT Home. The Bloomberg Billionaires Index showed his wealth up $65 billion on the day at $1.04 trillion, CLS and 36Kr reported, while Jiemian cited Fortune's real-time billionaires list at about $1.03 trillion at the US close. [ 1 , 2 , 3 , 4 ]
The documents differ on the size of the single-day gain. IT Home put the increase at $30.6 billion, while CLS and 36Kr, both citing the Bloomberg index, said it was $65 billion. IT Home also reported that Amazon founder Jeff Bezos ranked a distant second with $371.5 billion in net assets. Musk's SpaceX and Tesla holdings together make up more than 98% of his net worth, according to 36Kr. [ 1 , 2 , 4 ]
It is a title Musk has held before. He became the world's first trillionaire in June after SpaceX began trading on Nasdaq, IT Home and CLS reported, but lost the status within days as SpaceX and Tesla shares fell. By late July his wealth had dropped more than $600 billion from its peak, a decline larger than the entire fortune of any other person on Bloomberg's list of the 500 richest people, CLS said. [ 1 , 2 ]
Several factors were cited for the rebound. Tesla's third-quarter deliveries beat analyst expectations, adding $61 billion to Musk's net worth on Friday alone, according to IT Home, and Tesla shares continued to rise more than 1% on Monday morning US time. CLS and 36Kr reported that SpaceX shares were up 13% and Tesla 6.7% so far in October. Jiemian said Morgan Stanley issued a bullish report on SpaceX, maintaining a buy rating and a $300 target price, about 75% above the day's close, citing new AI products, Starship development progress and new cloud service contracts, and calling the stock significantly undervalued. The same outlet noted SpaceX completed a run of commercial launches and made a Starship test breakthrough last week. [ 1 , 2 , 3 , 4 ]
Only Jiemian offered an explanation for the price move, and the documents give no company statement on the share performance. The wealth figures come from two different trackers, Bloomberg's index and Fortune's real-time list, which the outlets report separately rather than reconciling. [ 2 , 3 ]
Why it matters
Musk's wealth is concentrated in SpaceX and Tesla, so the move is largely a market story about two listed companies rather than a change in either business. The Morgan Stanley note cited by one outlet points to expectations around AI products, Starship development and new cloud contracts as reasons for the re-rating. Because most of the reporting rests on the same index data and sell-side research, readers should treat the valuation arguments as claims by the parties involved.
Key facts
- SpaceX shares rose about 7.6% on Monday, reaching their highest level since mid-June, according to IT Home. [ 1 ]
- The Bloomberg Billionaires Index showed Musk's wealth up $65 billion on Monday to $1.04 trillion. [ 2 , 4 ]
- Fortune's real-time billionaires list put Musk's net worth at about $1.03 trillion at the US close. [ 3 ]
- Musk first became a trillionaire in June after SpaceX began trading on Nasdaq, then lost the title as SpaceX and Tesla shares declined. [ 1 , 2 ]
- By late July his wealth had fallen more than $600 billion from its peak, CLS reported. [ 2 ]
- Musk's SpaceX and Tesla holdings together account for more than 98% of his net worth, per the Bloomberg index. [ 4 ]
- Morgan Stanley maintained a buy rating on SpaceX with a $300 price target, about 75% above the close, citing new AI products, Starship progress and new cloud contracts. [ 3 ]
- Amazon founder Jeff Bezos ranked second with $371.5 billion in net assets, according to IT Home. [ 1 ]
Confirmed by several sources
- Elon Musk's net worth returned above $1 trillion after SpaceX shares rose. [ 1 , 2 , 3 , 4 ]
- Musk first reached trillionaire status after SpaceX's June listing and subsequently lost it as the shares declined. [ 1 , 2 ]
- SpaceX and Tesla shares account for the large majority of Musk's net worth. [ 2 , 4 ]
- Tesla's third-quarter deliveries beat analyst expectations. [ 1 , 4 ]
Still unclear
- The size of Musk's one-day wealth gain on Monday. IT Home says his net worth increased by $30.6 billion, while CLS and 36Kr, both citing the Bloomberg Billionaires Index, say it rose $65 billion.
- The exact level of Musk's net worth. CLS and 36Kr cite the Bloomberg index at $1.04 trillion, while Jiemian cites Fortune's real-time list at about $1.03 trillion.
- What drove this particular SpaceX share move beyond the Monday session. Only Jiemian offers a reason, citing a Morgan Stanley report and recent launches; the other documents give no cause.
What local media are saying
Timeline, local time
- IT Home reports SpaceX shares up 7.6% and Musk's net worth back above $1 trillion, $30.6 billion higher than Friday. [ 1 ]
- CLS reports Musk's wealth rose $65 billion on Monday to $1.04 trillion per the Bloomberg Billionaires Index. [ 2 ]
- Jiemian reports the 7.63% SpaceX rise, a roughly $1.03 trillion fortune on Fortune's list and a Morgan Stanley buy rating with a $300 target. [ 3 ]
- 36Kr republishes the Bloomberg-index figures, adding that SpaceX and Tesla shares are over 98% of Musk's net worth. [ 4 ]