Musk’s estimated fortune tops $1tn again after SpaceX and Tesla gains
An ANP/Bloomberg report puts Elon Musk’s wealth at $1.04tn after a $65bn rise on Monday, linked to higher valuations for his SpaceX and Tesla stakes.
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Elon Musk’s estimated wealth climbed back above $1tn on Monday, reaching $1.04tn after a $65bn rise, according to an ANP/Bloomberg report published on Tuesday. Bloomberg, as cited in the report, said it was the first time in three months his fortune had exceeded that level. [1]
The report attributed the increase to gains in SpaceX and Tesla. It said SpaceX’s price had risen 13% since the start of October, while Tesla’s had gained nearly 7%. Musk’s wealth is tied almost entirely to his stakes in the two companies, so the $65bn rise is a change in estimated value, not a cash payment. [1]
According to the report, Musk first passed $1tn after SpaceX’s stock-market debut in June, then fell below the mark as its price declined amid investor concerns about its valuation. [1]
The report also noted that a SpaceX Falcon 9 carried crew to the International Space Station last week and that Tesla reported better-than-expected third-quarter sales. It did not quantify either development’s effect on prices. [1]
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