Elon Musk Regains Status as Sole Trillionaire Amidst SpaceX Stock Surge

Elon Musk has reclaimed his position as the world’s sole trillionaire. This follows a nearly 8% surge in the shares of his rocket and satellite company, SpaceX (Nasdaq: SPCX), on Monday, October 5. The shares climbed to their highest level since mid-June, shortly after the company’s record-breaking initial public offering.

The rally was initiated by a bullish note from Morgan Stanley analysts. They described SpaceX as “cheap” at its current prices and set an ambitious price target of $300 per share. This represents an approximate 75% upside from Monday’s closing price of $171.09. The analysts highlighted upcoming AI product releases, continued progress of the Starship rocket, and new neocloud contracts as key growth drivers.

SpaceX’s timing is also significant. Last week, the company conducted multiple historic launches in a single day. These included a crewed NASA mission to the International Space Station and a separate orbital deployment of Google’s AI chips. Additionally, Tesla’s third-quarter deliveries exceeded analyst expectations, further boosting Musk’s overall net worth by an estimated $61 billion on Friday alone.

Forbes reports that Musk’s net worth now stands at approximately $1 trillion. This puts him far ahead of Amazon’s Jeff Bezos, who ranks second with an estimated net worth of $371.5 billion. Musk first crossed the trillion-dollar milestone in June following SpaceX’s landmark $75 billion IPO — the largest in history. However, he briefly lost the title as both SpaceX and Tesla shares dipped. Morgan Stanley analysts recommend investors buy shares ahead of SpaceX’s next planned Starship test flight and the company’s third-quarter earnings report, expected in late October.

Source: CNBC – SpaceX stock climbs to highest since June, returning Musk to trillionaire status