2 days ago
Tesla and SpaceX Rally Push Musk’s Fortune Near $1 Trillion
Elon Musk’s estimated wealth went up sharply as shares in Tesla and SpaceX rose.
Forbes put his fortune at $979.7 billion on Friday afternoon, then at $981 billion in a later update.
SpaceX shares gained value after several successful launches described in the article.
Tesla shares also rose after the company reported more third-quarter deliveries than analysts expected.
Those deliveries totaled 486,532 vehicles.
The article says vehicle sales remain Tesla’s biggest source of revenue.
Musk was also named as a co-leader of a new Pentagon initiative called Project Meridian.
The article says the share-price gains, rather than the announcement alone, helped lift his fortune.
Forbes estimated Elon Musk’s fortune at $979.7 billion Friday afternoon, after a reported one-day increase of $61 billion.
A later Forbes update put Musk’s net worth at $981 billion at 12:40 a.m. EDT on October 3, 2026.
SpaceX shares rose more than 7% to $158.84, with the article citing successful launches as a factor.
Tesla shares gained around 5% to $371.32 after the company reported 486,532 third-quarter deliveries, above analysts’ expectations.
The article also reported Musk’s selection to co-lead the Pentagon’s Project Meridian with Palmer Luckey and Newt Gingrich.
- Who
- Elon Musk, whose wealth is tracked by Forbes.
- What
- His estimated fortune rose to $979.7 billion and later $981 billion as Tesla and SpaceX shares rallied.
- Where
- The United States; the article cites company shares and launches in Florida.
- When
- Friday and the early hours of October 3, 2026, according to the article’s stated update times.
- Why
- The article attributes the rise mainly to gains in Tesla and SpaceX shares, citing Tesla delivery figures and successful SpaceX launches.
Key facts
- Friday afternoon estimate
- $979.7 billion at 2:15 p.m. US time, according to Forbes as reported in the article
- Later estimate
- $981 billion at 12:40 a.m. EDT on October 3, 2026
- Reported one-day increase
- $61 billion
- SpaceX share price
- $158.84, up more than 7% as of 2:15 p.m. EDT Friday
- Tesla share price
- $371.32, up around 5% as of 2:15 p.m. EDT
- Tesla third-quarter deliveries
- 486,532 vehicles, exceeding analysts’ expectations
- Project Meridian co-leaders
- Elon Musk, Palmer Luckey, and Newt Gingrich
Sources
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