Elon Musk’s net worth has climbed back above $1 trillion, making him the world’s only trillionaire once again.
The surge was driven largely by gains in Tesla and SpaceX, two companies that account for most of Musk’s fortune. Tesla shares rose about 2% after third-quarter deliveries exceeded expectations, while SpaceX gained roughly 8% following bullish analyst commentary.
Musk first crossed the $1 trillion mark after SpaceX’s major IPO earlier this year. He later lost the title when SpaceX shares declined, pushing his fortune back below the threshold.
The latest rally has reversed that drop. SpaceX shares have climbed nearly 30% above their $135 IPO price, while Tesla remains down roughly 15% for the year.
Musk has also recently appeared to repair his relationship with President Donald Trump following their highly publicized fallout last year. He attended an AI-focused White House event alongside other technology executives and publicly supported Trump’s push to use the term “Super Intelligence” instead of “artificial intelligence.”
For now, the gains in Tesla and SpaceX have put Musk back in a financial category occupied by no one else: a net worth exceeding $1 trillion.