Tesla shares climbed 6.7% on Monday after a stronger‑than‑expected Q3 sales report, while SpaceX shares have surged 13% since the start of October. Musk’s net worth increased by $65 billion to $1.04 trillion, the second time in three months the billionaire’s fortune has crossed the 13‑digit mark.
Morgan Stanley analysts described SpaceX as one of the cheapest ways to play "the strong optionality" of the space and intelligence sector, a view that has helped drive a 58% rebound from an August low across the broader space market.
Musk’s holdings in SpaceX and Tesla now account for more than 98% of his net worth, a proportion that has remained stable since the IPO of SpaceX in 2018. The $600 billion‑plus decline from his peak in late July still dwarfs the fortunes of anyone who had ever been on Bloomberg’s rich list, except Musk himself.
Analysts are watching for Tesla’s next quarterly guidance, expected in October, to assess whether the company can maintain its momentum amid a competitive EV landscape and rising production costs.
The dual rally in Tesla and SpaceX signals a broader investor confidence in space and automotive innovation, with the space sector rebounding 58% from August lows and Tesla’s share price continuing to climb.