Elon Musk regains trillionaire status as SpaceX stock surges

Tesla and SpaceX CEO Elon Musk rejoined the trillionaire ranks on Monday after SpaceX shares surged past 5%, reaching $167 by mid-morning, reclaiming a milestone he first hit in June, according to Forbes. Tesla stock rose more than 1% in the same session, contributing to a net worth gain of $30.6 billion over Friday.

The jump puts Musk’s fortune more than $628 billion ahead of Amazon founder Jeff Bezos, who holds an estimated net worth of $371.5 billion, according to Forbes.

Morgan Stanley analysts had flagged SpaceX shares as undervalued, and the stock also got a lift from Starship’s first successful trip to orbit the previous week, according to Forbes. Friday had already added $61 billion to Musk’s fortune after Tesla’s third-quarter delivery figures came in ahead of what analysts had forecast.

Musk said over the weekend that he would rename SpaceXAI — SpaceX’s artificial intelligence subsidiary that operates the Grok chatbot — to SpaceXSI, aligning with President Donald Trump’s push to rebrand the technology. An executive order Trump signed on September 29 instructed government agencies to drop the phrase “artificial intelligence” and adopt “super intelligence” and the abbreviation “SI” instead. Musk posted on X: “No more AI, SI, It’s better,” according to Forbes. By Monday morning, however, no official rebranding steps had been taken.

Musk first became a trillionaire in June when SpaceX debuted on the Nasdaq at $135 per share, an 11% premium over the IPO price, briefly pushing his net worth to roughly $1.1 trillion. He lost that status within days as SpaceX and Tesla stock declined. Monday’s close above $167 puts SpaceX stock roughly 24% above its IPO price.

The IPO itself set a record, with 555.6 million shares sold at $135 apiece to generate $75 billion in proceeds, surpassing Saudi Aramco’s 2019 offering. Musk controls approximately 82.4% of voting power in the company after the offering.

SpaceX reported revenue of $18.67 billion in 2025, a 33% increase from the prior year, while swinging to a net loss of $4.94 billion from a profit of $791 million the year before.