By David Akinmola
Elon Musk, the world’s richest person, has regained trillionaire status after his estimated fortune surged by $88 billion to $1.013 trillion on Wednesday, driven by a rally in shares of his aerospace company, SpaceX, and electric vehicle maker, Tesla. <Cite refs “turn416237news3″,”turn416237news2”
According to Forbes’ Real-Time Billionaires list, the increase pushed Musk’s wealth above the $1 trillion mark as SpaceX shares gained more than 10 per cent following better-than-expected third-quarter earnings, while Tesla shares rose by more than three per cent ahead of its earnings report. <Cite refs={[“turn416237news3″,”turn416237search1″
Investor sentiment was also lifted by confirmation that the boards of SpaceX and Tesla had formed special committees to consider a possible merger between the two companies.
Musk described the proposed combination as a good idea but cautioned that it was not certain, leaving the potential transaction subject to further discussions. Cite refs=”turn416237news2″,”turn416237news12”
The latest increase underscores the extent to which Musk’s personal fortune is tied to the market valuations of his businesses, particularly SpaceX and Tesla. Changes in their share prices can add or erase billions of dollars from his estimated net worth within a single trading session.
SpaceX also reported strong third-quarter performance, with revenue rising 161 per cent year-on-year, while revenue from its artificial intelligence business grew 830 per cent. Its Starlink satellite internet service also recorded an increase in subscribers during the quarter. <Cite refs “turn416237search1″,”turn416237news2”
Musk first crossed the trillion-dollar wealth threshold in June 2026 following SpaceX’s public listing, but has since moved above and below the milestone as market valuations fluctuated. Cite refs={[“turn416237news3″,”turn416237search8”
