Elon Musk Net Worth: How SpaceX and Tesla helped Musk become a trillionaire again after market rally

Elon Musk has reclaimed his status as a trillionaire, with his net worth reaching approximately $1.04 trillion on May 10, 2023, according to Forbes' real-time billionaires data. This surge was largely due to a 8% increase in SpaceX shares, which rose nearly 8% after Morgan Stanley analysts deemed the stock relatively cheap and highlighted potential growth from artificial intelligence products, Starship, and new cloud computing contracts.

The recent rebound for SpaceX was a stark contrast to its period of decline in June, when its shares fell and Musk's net worth dropped from $1.32 trillion to $957 billion. In the same time frame, Tesla's shares also contributed to the rebound, with deliveries in the third quarter surpassing expectations. Despite Musk's overall wealth being tied to equity holdings whose value fluctuates with the market, the latest milestone underscores the significant impact that stock market movements can have on Musk's estimated net worth.