Elon Musk has once again crossed the $1 trillion net worth mark after a strong rally in the shares of his two biggest companies, SpaceX and Tesla. According to Forbes, on Monday, SpaceX shares climbed 7.6%, while Tesla stock rose 8.6% by the afternoon. The jump added about $62.3 billion to Musk’s fortune, taking his estimated net worth back above $1 trillion.
The recovery came just days after Musk dropped below the trillion-dollar mark because of a fall in SpaceX’s share price and changes to how part of his Tesla stock was counted.
Elon Musk becomes a trillionaire again
Even after the recent ups and downs, Musk remains the richest person in the world by a wide margin. His fortune is far ahead of Google co-founders Larry Page, whose net worth stands at $288.7 billion, and Sergey Brin, who is worth $266.3 billion.
However, Musk is still well below his record fortune of $1.45 trillion, which he reached on June 16. According to his latest disclosed holdings, Musk owns 4.8 billion SpaceX shares and another 350 million stock options with an exercise price of $8.40 per share. Earlier this month, he also revealed that he owns around 700 million Tesla shares.
Musk briefly lost his trillionaire status after Forbes removed $116 billion worth of restricted Tesla shares from its estimate of his wealth. The change followed a restructuring of his 2018 Tesla pay package after a legal battle, with the new award tied to him staying in a senior leadership role until January 2028. His fortune also declined as SpaceX shares gave up much of their post-IPO gains.
SpaceX shares gained momentum after reports and market speculation suggested the company could be looking at buying a mobile phone carrier. Another reason behind the upbeat mood was Rocket Lab’s new deal with Iridium Communications, which reignited investor interest in satellite communications companies.
A series of record-breaking milestones
Musk has held the title of the world’s richest person since May 2024. Earlier this month, he became the world’s first trillionaire after SpaceX’s record-breaking IPO pushed his net worth to about $1.1 trillion.
In December 2024, Musk became the first person ever to reach a net worth of $400 billion. Over the following months, he also became the first to cross the $500 billion, $600 billion, $700 billion, $800 billion and $900 billion marks.
Tesla shareholders also approved a new compensation package for Musk in November. If the company meets several performance targets over the next decade, the package alone could eventually be worth close to $1 trillion.
SpaceX shares see ups and downs after record-breaking IPO
SpaceX shares have had a bumpy ride in the weeks since the company’s historic stock market debut in mid-June 2026. The company raised around $75 billion in what became the biggest IPO in history, giving SpaceX a valuation of more than $1.75 trillion. Investors rushed to buy the stock on its first day, sending shares nearly 19% higher.
After the initial surge, SpaceX shares dropped sharply as many investors chose to lock in profits. The sell-off pushed SpaceX stock from highs of nearly $225 to the mid-$140 range, wiping out much of its early post-IPO gains.
Since its market debut in mid-June 2026, SpaceX has been using its stronger financial position to strike big deals aimed at expanding beyond space technology. One of SpaceX’s biggest post-IPO moves is its planned $60 billion all-stock acquisition of AI coding startup Cursor, developed by Anysphere. The companies had already been working together, with Cursor training its AI models using SpaceX and xAI’s computing infrastructure.
At the same time, it is working on plans for orbital data centres that would combine Starlink’s satellite network with Starship’s space transportation capabilities. The company has signed major computing agreements, including leasing capacity from its Colossus supercomputer to Anthropic.
The goal is to create a powerful AI infrastructure that connects computing, satellite communications and space technology. SpaceX is also growing its Starlink business through partnerships with telecom operators around the world.
Its Direct-to-Cell service now works with companies including T-Mobile in the United States, Rogers in Canada and several international carriers.
The company has also raised $25 billion through a five-part bond sale, with most of the money set to refinance the short-term bridge loans it took on before and around its record-breaking IPO in June 2026.
Disclaimer: This article provides factual analysis only and is not, and should not be construed as, an offer, solicitation, or recommendation to buy or sell securities. Investors must conduct their own independent due diligence and seek advice from a registered financial advisor in the respective jurisdiction.