Elon Musk's Net Worth Tops $1 Trillion Again on SpaceX, Tesla Rally

What happened

Elon Musk's net worth rose to about $1.04 trillion on October 5, 2026, according to the Bloomberg Billionaires Index, a one-day gain of roughly $65 billion driven by rising SpaceX and Tesla share prices, according to figures reported by IndMoney. Forbes put his fortune at a similar level, around $1.046 trillion, on the morning of October 6, 2026, according to Billionaires.Africa, which cited Forbes data showing Musk was then about $628 billion ahead of Amazon founder Jeff Bezos, the world's second-richest person.

Both indices rely on real-time stock prices, so the exact figure moves throughout each trading day. More than 98% of Musk's estimated net worth comes from his stakes in Tesla and SpaceX, according to IndMoney and CoinCentral, which means his fortune can swing by tens of billions of dollars within a single session.

Stock moves behind the rally

SpaceX shares rose more than 7% to close at $171.09 on October 5, their highest level since mid-June, according to Billionaires.Africa. The outlet linked the move to a successful Starship orbital flight test and to Morgan Stanley analysts describing SpaceX stock as undervalued. CoinCentral separately reported that SpaceX shares gained on reports the company was in talks with Taiwan Semiconductor Manufacturing Company about building a new chip-production facility; Musk was quoted as calling the reports 'just discussions, but something may come of it.'

Tesla shares also advanced, closing at $378.73 on October 5, up 2.2% that day, according to IndMoney. CoinCentral reported Tesla gained after Deutsche Bank reiterated a Buy rating and raised its third-quarter revenue estimate to $27.7 billion from $27.2 billion, implying roughly 11% further share-price upside. IndMoney reported Tesla delivered 486,532 vehicles in the third quarter of 2026, beating analyst consensus by 5.3%, though deliveries were down 2.1% from a year earlier.

Background: SpaceX's record Nasdaq listing

Musk first became a trillionaire in June 2026, when SpaceX listed on Nasdaq under the ticker SPCX, according to Fox Business. The rocket company priced its initial public offering at $135 a share, opened trading at $150, and closed its first day at $160.95, after touching a peak of $176.52. The offering raised $75 billion, which Fox Business described as the largest IPO in history, surpassing Saudi Aramco's $29 billion listing in 2019, and valued SpaceX at approximately $1.8 trillion.

At that valuation, Musk's SpaceX stake was worth roughly $690 billion, pushing his combined net worth, including Tesla and other holdings, to about $1.1 trillion and making him the world's first trillionaire, according to Fox Business. The outlet also reported that Musk retained about 85% of SpaceX's voting power after the IPO through Class B shares carrying ten votes each, compared with one vote per Class A share.

A volatile few months

Musk's wealth did not stay above $1 trillion for long. CoinCentral reported his fortune peaked near $1.3 trillion shortly after the SpaceX IPO before falling to about $957 billion by June 24, 2026, roughly 12 days after SpaceX's listing, amid broader investor concerns about the pace of the company's growth. Billionaires.Africa put the peak more precisely at roughly $1.32 trillion on June 16, 2026, when SpaceX shares hit $225.64, and reported a similar drop to about $946 billion within two weeks — a slightly lower trough figure than CoinCentral's. The outlet separately said that by late July, Musk had lost more than $600 billion from the peak as a broader technology-sector sell-off hit both SpaceX and Tesla shares.

Scale of the fortune

CoinCentral noted that Musk's October net worth exceeds Taiwan's gross domestic product, which it put at about $920 billion, and is comparable in size to the economy of Poland. As of October, IndMoney reported Tesla's market capitalization at roughly $1.5 trillion and SpaceX's at roughly $2.3 trillion.

Musk also holds stakes in other ventures that are not publicly traded. A December 2025 Yahoo Finance report, published before the SpaceX IPO, estimated Musk owned about one-third of artificial-intelligence company xAI, then valued around $230 billion, along with stakes in The Boring Company valued above $5 billion and in Neuralink valued above $9 billion. Those figures predate the SpaceX listing and the October rally and have not been updated by the sources reviewed for this article.

What is not yet known

Bloomberg's and Forbes's wealth indices are estimates based on public share prices and disclosed ownership stakes; neither Musk, Tesla nor SpaceX has published an official confirmation of his net worth. SpaceX remains a newly listed company, and analysts cited by the outlets reviewed have given differing explanations — from Starship test results to reported chip-manufacturing talks — for the October share-price gains, without a single confirmed catalyst.