Elon Musk has reclaimed his status as a trillionaire after a significant rally in SpaceX and Tesla shares boosted his net worth by more than $60 billion. According to Forbes, shares of SpaceX rose 7.6 percent, while Tesla gained 8.6 percent as of Monday, increasing Musk’s net worth by $62.3 billion to over $1 trillion.
Decline and recovery in June
On 24 June, Musk had fallen below the trillion-dollar threshold after his net worth declined by 31 percent to an estimated $962 billion. That drop followed a slump in SpaceX’s stock price and new restrictions on $116 billion worth of Tesla shares earlier in the month. However, the recent surge reversed those losses.
Earlier, on 12 June, Musk’s net worth had risen to an estimated $1.1 trillion after SpaceX’s market listing on the Nasdaq stock exchange. SpaceX’s stock jumped 40 percent to an all-time high, pushing Musk’s fortune to a record $1.45 trillion by 16 June before the subsequent decline.
Musk’s holdings and market impact
The surge in SpaceX and Tesla shares means Musk now holds 4.8 billion shares of SpaceX and another 350 million stock options with an exercise price of $8.40 per share. The latest development confirms that the Tesla founder remains the world’s richest person by a wide margin, ahead of Google co-founders Larry Page ($288.7 billion) and Sergey Brin ($266.3 billion).
Founded in 2002, SpaceX has grown from an experimental rocket startup into a leading force in aerospace, satellite communications, and AI infrastructure. Its Starlink satellite internet business has expanded the company beyond space launches into a global connectivity platform.
Musk’s entrepreneurial journey
Musk built his fortune by co-founding Zip2 and PayPal before reinvesting the proceeds into SpaceX, Tesla, and other ventures. He also owns xAI and X, which he acquired in a $44 billion deal in 2022 and later introduced monetisation features to strengthen the platform’s business.
