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Elon Musk once again becomes the world's only trillionaire

The tech king's fortune exceeded one trillion dollars following an almost 8% rise in SpaceX shares, reports Forbes.

Editor: Дарья06 Oct, 12:40Read in Russian

This image was created using AI and is not a documentary photograph

Elon Musk's capital once again surpassed $1 trillion amid growth in SpaceX and Tesla shares. SpaceX shares rose by 7.6% on Monday and closed at $171.09. According to Forbes, the entrepreneur's fortune reached approximately $1.046 trillion.

Previously, on June 16, Musk's fortune had reached approximately $1.32 trillion, according to the Bloomberg Billionaires Index. In June, SpaceX went public, conducting the largest IPO in the U.S. to date.

Currently, Musk's closest competitors in the Forbes ranking are Amazon founder Jeff Bezos with a fortune of about $371 billion and Google co-founder Larry Page with $284 billion. Thus, Musk's fortune is nearly three times greater than that of his nearest competitor.

The majority of Musk's fortune is tied to his stakes in SpaceX and Tesla, so the valuation of his capital fluctuates significantly with the stock prices of these companies.

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Original source: Forbes

Based on a report by: Business Insider

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