Elon Musk has returned to trillionaire status after SpaceX shares rose about 4 percent on Monday, lifting the billionaire’s estimated fortune back above the $1 trillion mark, according to Forbes.
The rally followed Morgan Stanley’s decision to reiterate an overweight rating on the rocket and satellite company and maintain a $300 price target, which implies nearly 89 percent upside from Friday’s close. Gains in both SpaceX and Tesla shares added roughly $30.6 billion to Musk’s net worth in a single day.
Forbes ranked Musk as the world’s richest person, well ahead of Amazon founder Jeff Bezos, whose fortune is estimated at $371.5 billion.
Musk first crossed the trillion-dollar threshold in June after SpaceX began trading on the Nasdaq, but later slipped below the mark as shares of both SpaceX and Tesla declined. Recent advances, including Tesla’s better-than-expected third-quarter deliveries and SpaceX’s latest Starship launch, helped push his wealth higher again.
Morgan Stanley analyst Adam Jonas said SpaceX looked expensive on traditional metrics yet appeared cheaper when adjusted for growth. The firm values the company’s external launch operations, Starlink connectivity and AI businesses separately within its $300 target.
Jonas identified the upcoming Starship Flight 15, expected in late October or early November, as a potential major catalyst. A successful mid-air catch of the spacecraft’s upper section would mark further progress toward full reusability and could lower launch costs.
“SpaceX was one of the cheaper ways to gain exposure to the growth potential of the space and intelligence economy when its valuation was adjusted for growth,” Jonas wrote.
The brokerage also flagged risks including slower AI growth, higher infrastructure costs and potential dilution.
