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Musk's fortune climbs back to $1.04 trillion
Hindustan Times··6d ago
Elon Musk's fortune jumped by $65 billion on Monday to $1.04 trillion, according to the Bloomberg Billionaires Index. Gains followed rises in his SpaceX and Tesla stakes. SpaceX shares are up 13 percent since the start of October, while Tesla has gained 6.7 percent. It is the first time in three months his fortune has required 13 numerals.
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What It Means For You
- Bloomberg's index puts Musk back above the trillion-dollar mark after a three-month gap.
- Musk's SpaceX and Tesla stakes make up more than 98 percent of his net worth.
- Tesla reported better-than-expected sales for the third quarter last week.
What's Happening
- SpaceX shares rebounded after an August low, with a 58 percent rise cited by Bloomberg.
- Morgan Stanley analysts described SpaceX as a cheap way to play space and intelligence options.
- Musk first became a trillionaire in June after SpaceX's IPO surge.
What Moved Musk's Net Worth
- As of late July, Musk's wealth decline from its peak exceeded $600 billion.
- The 55-year-old's fortune is tracked on the Bloomberg Billionaires Index.
- Hindustan Times and BusinessLine both cited the same Monday jump to $1.04 trillion.
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