Elon Musk's net worth reaches US$1.04 trillion

Elon Musk’s net worth has reached US$1.04 trillion, marking the first time in three months his wealth has hit the 13-digit mark. This surge follows a US$65 billion increase, driven largely by rising stock values in SpaceX and Tesla.

According to the Bloomberg Billionaires Index, SpaceX shares rose 13% since the beginning of October, while Tesla saw a 6.7% increase. Analysts at Morgan Stanley have identified SpaceX as a significant opportunity for growth within the space and artificial intelligence sectors. Musk’s holdings in these two companies account for more than 98% of his total net worth.