Elon Musk’s net worth surged by around US$65 billion (RM265.5 billion) in a single day, pushing the world’s richest person back above the US$1 trillion (RM4.08 trillion) mark.
According to the Bloomberg Billionaires Index, Musk’s fortune reached around US$1.04 trillion (RM4.25 trillion) on Monday, largely driven by gains in SpaceX and Tesla.
SpaceX shares have climbed around 13% since the start of October, closing at US$171.09 (RM698) on Monday. Tesla also gained 6.7% over the same period, closing at US$378.73 (RM1,547).
Musk crosses the trillion-dollar mark again
This marks Musk’s return to the trillion-dollar club after his net worth previously fell below the milestone.
He first became the world’s first trillionaire in June after SpaceX completed a record-breaking IPO, sending the company’s valuation sharply higher. However, concerns over whether SpaceX was overvalued later triggered a pullback in its shares.
By the end of July, Musk had lost more than US$600 billion (RM2.5 trillion) from his peak fortune, marking one of the biggest drops in wealth among the world’s 500 richest people during that period.
SpaceX has since rebounded strongly, with its share price now around 58% above its August low.
Morgan Stanley analysts said SpaceX has significant “optionality” in the aerospace and intelligence sectors, describing it as a relatively low-cost way to gain exposure to those opportunities.
Musk’s wealth remains heavily tied to the two companies, with his combined holdings in SpaceX and Tesla accounting for more than 98% of his personal net worth, according to Bloomberg.
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