The net worth of American businessman Elon Musk has once again surpassed the $1 trillion mark, according to Forbes' real-time billionaires list. This follows a surge in the share prices of his companies, SpaceX and Tesla, immediately after the stock market opened on Monday.
According to Forbes, on October 5, the net worth of Musk, 55, increased by $30.6 billion compared to Friday's close. Amazon CEO Jeff Bezos (the second richest person on the Forbes list) is currently valued at $371.5 billion.
The magazine notes that Tesla's third-quarter deliveries exceeded analysts' forecasts. This gave a boost to Musk's net worth - his fortune increased by $61 billion on Friday alone. Tesla shares continued to rise on Monday morning.
SpaceX's rise was due to Morgan Stanley's optimistic outlook, with analysts calling the aerospace company's shares undervalued. The successful launch of the Starship spacecraft also played a role.
Investor interest was further piqued by Musk's announcement that SpaceXAI would become SpaceXSI. The decision followed President Donald Trump's executive order that replaced "artificial intelligence" with "superintelligence" in official documents.
Musk is SpaceX's largest shareholder and serves as chairman, CEO and chief technology officer. In February, he merged xAI and SpaceX. According to Bloomberg and The Wall Street Journal, citing sources, the combined market capitalization of the merged companies was 1.25 trillion USD.
The businessman became the first trillionaire in history on June 12 - after the initial public offering of SpaceX - and remained so for almost two weeks. The company's market capitalization at the time of the initial public offering was 1.77 trillion USD.