Elon Musk has reclaimed his trillionaire status after a rally in Tesla and SpaceX shares added $22 billion to his fortune on Friday morning, October 9. Forbes estimated his wealth at $1.012 trillion around 10 am, marking another dramatic turnaround for the world’s richest man. The rebound came just one day after a $36 billion decline pushed him below the trillion-dollar threshold.
Tesla's China Sales Lift Confidence
Tesla received a boost after figures showed sales of its China-made electric vehicles increased by approximately 5% compared with a year earlier. Deliveries of Model 3 and Model Y vehicles produced at its Shanghai factory reached 95,366 units, up from 90,812 in the corresponding period. The improvement offered encouragement as the electric vehicle manufacturer battles to avoid a third consecutive annual sales decline.
It also followed stronger-than-expected third-quarter deliveries. Tesla reported 486,532 vehicles delivered worldwide, exceeding analysts’ average forecast of 463,761. However, that quarterly total remained about 2% below the previous year’s figure, showing that beating market expectations does not necessarily mean the company has returned to annual growth. For investors, the stronger figures offered fresh grounds for optimism, although Tesla still faces pressure to sustain demand and translate vehicle deliveries into stronger financial results.
SpaceX Advances Starlink Mobile Plans
SpaceX also attracted investor attention after announcing an agreement to acquire a nationwide portfolio of low-band spectrum licences. The acquisition is intended to support Starlink Mobile, the company’s planned cellular service, and expand its mobile connectivity ambitions. The 800 MHz spectrum would help broaden coverage, representing an important step towards the proposed service. The announcement added another potential growth driver to a business already closely associated with satellite internet and space launches. Together, developments at Tesla and SpaceX strengthened sentiment around the companies underpinning much of Musk’s wealth.
A Fortune That Moves With the Market
Musk’s repeated crossings of the trillion-dollar mark underline the difference between estimated net worth and cash held in a bank account. Much of his fortune consists of company ownership stakes whose market values change as investors buy and sell shares. Consequently, a sharp rally can add billions to his estimated wealth without him selling any assets. A downturn can erase those gains just as quickly. Friday’s recovery restored a symbolic milestone, but its durability will depend heavily on subsequent market movements.
Legit.ng earlier reported that Elon Musk’s fortune staged a stunning comeback, surging by $202 billion in August as rising Tesla and SpaceX valuations propelled him closer to becoming the world’s first trillionaire again. According to Forbes ranking, Musk’s net worth climbed to an estimated $892 billion as of September 1, 2026, following a 33% jump in SpaceX shares and an 18% increase in Tesla’s stock over the month.
