Elon Musk returns to the trillionaires’ club as his wealth rises by $65 billion in a day

Following positive developments in the financial markets, Elon Musk’s wealth has once again surpassed the $1 trillion mark.

Data from the Bloomberg Billionaires Index shows that on October 5, the American entrepreneur’s wealth was estimated at approximately $1.040 trillion, after rising by $65 billion in just 24 hours.

SpaceX and Tesla, the two companies that account for most of Musk’s wealth, were the main contributors to this increase. Since the beginning of October, SpaceX shares have risen by approximately 13%, while Tesla shares have recorded a gain of 6.7%.

Musk has thus surpassed the $1 trillion mark again for the first time in around three months. In June, he became the first person in the world to reach this level of wealth, helped by a significant increase in SpaceX’s valuation. However, his wealth later declined due to investor concerns over the company’s high valuation.

As markets have regained their optimism, Morgan Stanley analysts have ranked SpaceX among the most favorable options for investors seeking to benefit from the expansion of the space and artificial intelligence sectors.

At the same time, Tesla announced that quarterly sales had exceeded forecasts, a result that further contributed to the increase in Musk’s wealth.

Bloomberg reports that Musk’s stakes in SpaceX and Tesla account for more than 98% of his total wealth.