Elon Musk has once again turned a trillionaire after adding nearly $69 billion to his net worth in the past 24 hours, the data from Bloomberg's Billionaire Index showed on Tuesday. He gained about $68.7 billion in a single day as shares of SpaceX and Tesla surged amid renewed investor interest.
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SpaceX stock rose over 7% while Tesla climbed about 8.46% on Monday. Musk, who is the world's richest person, holds 4.8 billion shares of SpaceX and another 350 million stock options with an exercise price of $8.40 per share. Earlier this month, he disclosed that he holds about 700 million Tesla shares, as per Forbes.
However, his net worth fell below the trillion-dollar threshold last week following a sharp decline in SpaceX's stock and new restrictions on his Tesla equity. Still, his unprecedented rise in net worth places him far ahead of the second-richest person, Larry Page, who has $301 billion.
Why Did Musk Lose His Trillionaire Status?
The Forbes report added that Musk briefly lost his trillionaire status last week due to two key reasons. Firstly, his net worth estimates were adjusted, mainly due to changes in how his Tesla stock compensation was valued.
According to Forbes, Musk had stock options from his 2018 pay package. A judge cancelled them in 2024, but Delaware's top court brought them back in 2025. To use the options, Musk paid $7.1 billion in Tesla shares. Tesla replaced the stock award with a new one that only pays off if he stays in a senior leadership role through January 2028.
This development, combined with a sharp decline in SpaceX shares post its US market debut on June 12, resulted in a drop in Musk's overall fortune. SpaceX shares have so far erased their 40% post-IPO surge in less than three weeks of listing.
After reaching a peak of $225.64 from its IPO price of $135, SpaceX's share price stood at $164 post Monday trading session. Through this initial public offering (IPO), Musk emerged as the biggest winner, as he owns 42% of the company. The listing instantly propelled Musk's paper fortune past the $1 trillion mark and subsequently pushed it to a peak of $1.32 trillion on June 16 amid a sharp rally in shares.
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However, Musk's wealth remains volatile as most of it is tied to a few companies. As a result, even small market swings can significantly impact his wealth.
As investors grow more cautious over technology stocks due to uncertainty about artificial intelligence-linked profitability, Musk's wealth is expected to witness similar volatility in the future as well.
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