Elon Musk’s estimated wealth jumped by about $61 billion, or nearly Rs 17 trillion, in a single day as shares of Tesla and SpaceX rose sharply.
According to Forbes, Musk’s net worth reached around $979.7 billion on October 2, up 6.64% from the previous day. The increase pushed him closer to the $1 trillion mark after his fortune had fallen significantly following a decline in SpaceX shares earlier this year.
SpaceX shares gained more than 7% during Friday trading after the company completed several successful launches within 24 hours. Tesla shares also climbed about 5% following stronger-than-expected third-quarter vehicle deliveries. Tesla reported 486,532 deliveries for the July to September period, beating analysts’ estimate of 456,896 vehicles.
Musk remains the world’s richest person, according to Forbes. However, his net worth can change significantly from day to day because much of his wealth is tied to the value of his company holdings.
