Tesla CEO Elon Musk has regained trillionaire status for the second time in the world as SpaceX stock prices have surged dramatically. Following SpaceX's historic initial public offering (IPO) conducted in June, Musk became the first person to reach a 13-digit net worth. Although his wealth temporarily decreased when stock prices declined at that time, the stock prices have now recovered to record highs.
SpaceX, a rocket and AI technology company that has been gradually rising since mid-August, saw its stock price reach $171.09 at market close on Monday. With the stock price rising nearly 8 percent in a single day on Monday, according to Forbes' calculations, Musk's net worth has climbed back to $1.046 trillion. On June 16th, his net worth had previously peaked at $1.32 trillion.
Musk's wealth is primarily dependent on stock holdings in SpaceX and Tesla, making it directly connected to the business success of these companies. Currently, SpaceX stock prices have returned to their highest levels since late June, far surpassing the net worth of the world's second and third richest individuals: Amazon co-founder Jeff Bezos ($371 billion) and Google co-founder Larry Page ($284 billion).
Ref: Business Insider
