To The Moon

Elon Musk Gains $61 Billion In A Day As SpaceX And Tesla Shares Rise, Pushing Net Worth Back Towards $1 Trillion

‌$Tesla Motors(TSLA)$  ‌‌$SpaceX(SPCX)$  ‌

Topline

Elon Musk's net worth jumped $61 billion on Friday as SpaceX and Tesla shares rallied, pushing his estimated fortune back towards the $1 trillion mark.

Key Facts

Elon Musk's net worth was at $979.7 billion as of 2:15 p.m. on Friday, a 6.64% hike from Thursday, according to the Forbes Real-Time Billionaires list.

SpaceX shares were up over 7% on Friday after it completed several successful launches in 24 hours, trading at $158.84 as of 2:15 p.m. EDT.

Tesla stock was up around 5%, trading at $371.32 as of 2:15 p.m. EDT, after the company posted 486,532 third-quarter deliveries, beating analysts' expectations and giving investors more hope that the company will avoid a third straight year of declines.

Musk sits firmly in the No. 1 spot on Forbes' Real-Time Billionaires List, with No. 2 Jeff Bezos' net worth at an estimated $370.7 billion.

Musk briefly became the world's first trillionaire on June 12, peaking at $1.45 trillion.

KEY BACKGROUND

Musk's net worth soared in June when SpaceX, his rocket and satellite venture, went public, trading at $150 per share, which gave the company a nearly $2 trillion market cap and pushed his net worth to $1.1 trillion, making him the world's first trillionaire. He lost this status later that month after SpaceX's stock fell 31%, having also entered an agreement with Tesla in April that restricted his $116 billion stock, which Forbes removed from his net worth calculation. He then regained it briefly on June 29, before losing it again on July 1. That month, his net worth fell below $700 billion as SpaceX stock fell 50% from its high on June 16.

BIG NUMBER

$600.5 billion. This is the gap between the wealth of Musk and Jeff Bezos, who holds the No. 2 spot on Forbes' Real-Time Billionaires list.