Musk is a trillionaire again as SpaceX claws back post-IPO slump

Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomePersonal FinanceHigh Net WorthMusk is a trillionaire again as SpaceX claws back post-IPO slumpThe latest gains have been fuelled by renewed optimism at both SpaceX and TeslaAuthor of the article:Elon Musk’s stake in SpaceX and Tesla makes up more than 98 per cent of his net worth, according to Bloomberg’s wealth index. Photo by Finn Gomez/Getty ImagesTHIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountThe fortune of the world’s richest person jumped by US$65 billion on Monday to US$1.04 trillion, according to the Bloomberg Billionaires Index, as the value of his stakes in SpaceX and Tesla Inc. rose. SpaceX shares are up 13 per cent since the start of October while Tesla has gained 6.7 per cent.It marks the first time in three months that the 55-year-old tech mogul’s fortune has required 13 numerals. He became the world’s first trillionaire in June when SpaceX surged in the wake of its record-breaking initial public offering, but quickly lost that crown as shares then slumped on concerns about the company’s sky-high valuation.This advertisement has not loaded yet, but your article continues below.As of late July, Musk’s US$600 billion-plus wealth decline from its peak exceeded the net worth of anyone who had ever been on Bloomberg’s list of the world’s 500 richest people, other than Musk himself.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againThe latest gains have been fuelled by renewed optimism at both companies. On Monday, analysts at Morgan Stanley called SpaceX one of the cheapest ways to play “the strong optionality” of the space and intelligence sector, adding to a rally in which shares of the space, artificial intelligence and social media company have rebounded 58 per cent from an August low.And last week, Tesla reported better-than-expected sales for the third quarter.Musk’s stake in SpaceX and Tesla makes up more than 98 per cent of his net worth, according to Bloomberg’s wealth index.We apologize, but this video has failed to load.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. 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