Elon Musk Is a Trillionaire Again as Shares Jump
Elon Musk’s fortune jumped $65 billion on Monday to $1.04 trillion, according to the Bloomberg Billionaires Index, making him a trillionaire again.
SpaceX shares are up 13 per cent since the start of October, while Tesla has gained 6.7 per cent. Musk’s stakes in the two companies make up more than 98 per cent of his net worth.
It is the first time in three months his fortune has required 13 numerals. Musk became the world’s first trillionaire in June after SpaceX’s record-breaking public offering, then quickly lost the crown as shares slumped.
Morgan Stanley analysts called SpaceX one of the cheapest ways to play the space sector, adding to a rally in which its shares have rebounded 58 per cent from an August low. Tesla also reported better-than-expected third-quarter sales.
Forbes had valued Musk at $979.7 billion as of Friday. Monday’s rally pushed him back above the trillion-dollar mark.
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