Musk regains trillionaire status as SpaceX shares jump 7.63%
Version 2: A third Korean outlet, Korea Economic Daily, has added coverage headlining the same 1,400 trillion won net worth and the regained trillionaire title; no new facts on the share move or the company itself appeared.
In short
SpaceX shares closed 7.63% higher at $171.09 on Oct. 5, their highest level in about three months, after Morgan Stanley set a $300 target price. Forbes put Elon Musk's net worth at $1.046 trillion (about 1,400 trillion won), returning him to trillionaire status roughly three months after he first crossed the mark. Musk first passed $1 trillion on June 12 after SpaceX's listing but fell back below it within about ten days.
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SpaceX shares closed at $171.09 on Oct. 5, up 7.63% from the previous close and the highest level in about three months, Yonhap and Maeil Business reported. Forbes figures cited by both outlets put Elon Musk's net worth back above $1 trillion, returning the SpaceX chief executive to trillionaire status after about three months. [ 1 , 2 ]
Forbes estimated Musk's net worth at $1.046 trillion, or about 1,400 trillion won, counting the value of his SpaceX and Tesla holdings, according to Yonhap and Maeil Business. Korea Economic Daily headlined the same figure, reporting that Musk had regained the trillionaire title. Yonhap said the total was close to three times the $371.1 billion Forbes attributed to Amazon founder Jeff Bezos; Maeil Business did not include that comparison. [ 1 , 2 , 3 ]
Musk first crossed $1 trillion on June 12, shortly after SpaceX's listing, becoming what both Yonhap and Maeil Business called the first trillionaire in history, but the stock's decline pushed him back below the mark in about ten days. When his net worth later fell below $700 billion, he referred to himself on X as a “former trillionaire,” the two outlets reported. [ 1 , 2 ]
Both outlets attributed the Oct. 5 gain to a Morgan Stanley report, citing CNBC. In the Oct. 4 note, the analysts judged SpaceX shares cheap and set a target price of $300, recommending purchases ahead of third-quarter earnings due late October and the next test flight of the next-generation Starship rocket, which they called potentially “the biggest catalyst since the IPO.” [ 1 , 2 ]
The documents also cite recent operational milestones: SpaceX carried out a NASA crewed spaceflight mission and launched a Google artificial intelligence chip into orbit. They add that cooperation with the Trump administration is viewed as positive for the company's value, noting more than $12.7 billion in defense contracts and Musk's appointment as co-head of the Pentagon's Meridian Plan, which identifies weapons and technologies the United States needs. [ 1 , 2 ]
Why it matters
Musk's personal wealth is now tied closely to a listed rocket company that is also a major US defense contractor, so swings in SpaceX stock carry weight for investors and for the company's government business. The Morgan Stanley note points to the upcoming third-quarter results and the next Starship test flight as catalysts, making those events the next checkpoints for the stock. Coverage is limited to Korean and international business reporting on the share move and the Forbes estimate.
Key facts
- SpaceX shares closed at $171.09 on Oct. 5, up 7.63% from the previous close, the highest in about three months. [ 1 , 2 ]
- Forbes estimated Musk's net worth at $1.046 trillion, or about 1,400 trillion won, including his SpaceX and Tesla holdings. [ 1 , 2 , 3 ]
- Musk first became a trillionaire on June 12 after SpaceX's listing, but lost that status about ten days later as the stock fell. [ 1 , 2 ]
- Morgan Stanley analysts said in an Oct. 4 report that SpaceX shares were cheap and set a target price of $300. [ 1 , 2 ]
- Morgan Stanley cited the third-quarter earnings due late October and the next Starship test flight as potential catalysts. [ 1 , 2 ]
- SpaceX has won more than $12.7 billion in defense contracts, and Musk was appointed co-head of the Pentagon's Meridian Plan. [ 1 , 2 ]
- Yonhap reported Musk's wealth was nearly three times the $371.1 billion Forbes attributed to Jeff Bezos. [ 1 ]
Confirmed by several sources
- SpaceX shares closed at $171.09 on Oct. 5, up 7.63%, the highest level in about three months. [ 1 , 2 ]
- Forbes estimated Musk's net worth at $1.046 trillion, about 1,400 trillion won. [ 1 , 2 , 3 ]
- Musk first crossed $1 trillion on June 12 after SpaceX's listing and fell below it about ten days later. [ 1 , 2 ]
- Morgan Stanley's Oct. 4 report set a $300 target price and recommended buying ahead of quarterly results and a Starship test flight. [ 1 , 2 ]
- SpaceX holds more than $12.7 billion in defense contracts and Musk was named co-head of the Pentagon's Meridian Plan. [ 1 , 2 ]
Still unclear
- The comparison of Musk's wealth with other billionaires, including Jeff Bezos's $371.1 billion. Only Yonhap gives the Bezos figure; Maeil Business and Korea Economic Daily do not mention it, so the comparison rests on a single outlet's reading of the Forbes tally.
- The exact timing and outcome of the late-October quarterly results and the next Starship test flight. The documents say the events are scheduled but give no dates or expected results.
- What Korea Economic Daily's report itself contained beyond its headline. The outlet's headline matches the event, but the article text that could be read consisted of unrelated stories about a Starship flight and Musk's comments on China, so its specific figures could not be checked beyond the headline.
What local media are saying
Timeline, local time
- Musk becomes the first trillionaire after SpaceX's listing, per Forbes. [ 1 , 2 ]
- Musk falls back below $1 trillion in net worth about ten days after first crossing the mark. [ 1 , 2 ]
- Morgan Stanley issues a report calling SpaceX shares cheap and setting a $300 target price. [ 1 , 2 ]
- SpaceX shares close at $171.09 in the US regular session, up 7.63%. [ 1 , 2 ]
- Yonhap publishes its report. [ 1 ]
- Maeil Business publishes its report. [ 2 ]
- Korea Economic Daily publishes its report. [ 3 ]