Elon Musk briefly regains trillionaire status as SpaceX, Tesla shares surge

Elon Musk’s estimated fortune crossed $1 trillion again on Wednesday, October 21, reaching $1.019 trillion before retreating to $989 billion by the market close, Profit by Pakistan Today reported. Forbes’ real-time ranking showed his wealth rising by about $94 billion in the opening hour, with a $64 billion increase remaining at the end of the session.

SpaceX shares climbed nearly 8% for the day after a strong third quarter, while Tesla advanced 3.5% before releasing its results. Musk said special committees at both companies were assessing a possible merger, but no agreement had been assured. SpaceX recorded 161% year-on-year revenue growth and an 830% rise in its AI business; Tesla’s quarterly revenue was unchanged, although its positive cash flow exceeded expectations.