- Elon Musk’s estimated net worth rose by $30.6 billion to around $1 trillion on Monday, Oct. 5, according to Forbes, returning him to the top of the world’s wealth ranking.
- Forbes attributed the increase to gains in SpaceX and Tesla shares, with Musk’s fortune nearly $630 billion greater than that of second-ranked Amazon founder Jeff Bezos.
- Musk first reached trillionaire status in June after SpaceX shares began trading on Nasdaq.
Elon Musk’s net worth returned to around $1 trillion on Monday, Oct. 5, rising by $30.6 billion from Friday, Forbes reported. The increase again placed Musk first in the publication’s ranking of the world’s richest people.
Amazon founder Jeff Bezos ranked second with an estimated net worth of about $371.5 billion. Musk was ahead of Bezos by nearly $630 billion, according to the report.
SpaceX drives wealth increase
Forbes said the increase in Musk’s wealth came amid rising share prices for SpaceX and Tesla.
SpaceX shares climbed after Morgan Stanley analysts said the stock could be undervalued. The report also cited the successful launch of the Starship spacecraft into orbit last week as a factor in the increase.
Tesla’s positive momentum also supported Musk’s net worth. The company’s third-quarter vehicle deliveries exceeded analysts’ expectations last week, boosting Musk’s wealth by about $61 billion in one trading session, according to Forbes.
Musk first achieved trillionaire status in June after SpaceX shares began trading on Nasdaq.
Musk previously said that most crypto assets are scams.
Source: Incrypted
