Elon Musk is a trillionaire again
· Business Insider
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- Elon Musk has regained his trillionaire status thanks to a boost in SpaceX's stock price.
- Musk became the world's first trillionaire after the SpaceX IPO, but the stock price later fell.
- The stock price has rebounded, along with Musk's net worth.
Elon Musk has regained his title as the world's only trillionaire.
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The Tesla CEO made history earlier this year by becoming the first person worth 13 figures after SpaceX's blockbuster initial public offering in June. Musk's wealth came back down a little closer to Earth after SpaceX's stock price fell following an initial surge.
The rocket and AI company's stock price has been creeping back up since early August, reaching $171.09 as of Monday's market close. The nearly 8% boost on Monday brought Musk's net worth back over the trillion-dollar threshold, according to Forbes, which estimated his wealth at $1.046 trillion.
Musk's wealth previously peaked on June 16 at $1.32 trillion, according to the Bloomberg Billionaires Index.
While Musk had long been counted among the richest people in the world, the SpaceX IPO put him in another stratosphere. The second- and third-wealthiest people in the world as of Monday were Amazon founder Jeff Bezos and Google cofounder Larry Page, worth $371 billion and $284 billion, respectively, according to Forbes.
Much of Musk's net worth comes from stakes in SpaceX and Tesla, so it is typically tied to the success of those companies. SpaceX's stock reached its highest level since June on Monday.
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