Elon Musk’s estimated fortune reached $1.04 trillion after the October 5, 2026 market session, according to the Bloomberg Billionaires Index as reported on October 6. The estimate rose with the value attributed to his SpaceX and Tesla stakes; it is not an audited balance sheet or $1.04 trillion in cash.
Why Musk’s estimated fortune rose to $1.04 trillion
The immediate driver was a rally in the two companies that account for most of the estimate. A Bloomberg report republished by Business Standard said SpaceX had gained 13% since the start of October and Tesla 6.7%. It attributed more than 98% of Musk’s estimated net worth to his stakes in those companies. These are the report’s figures for the period it describes, not a guarantee of future performance. Business Standard’s October 6 report said the estimate rose by $65 billion in one day to $1.04 trillion.
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Fortune’s October 6 report said SpaceX shares rose nearly 8% on October 5 and that the Bloomberg Billionaires Index estimate increased from $976.9 billion to $1.04 trillion. A move in the estimated value of a large holding can shift a billionaire ranking sharply, even when the change is not a cash payment to its owner.
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The $1.04 trillion figure is an estimate of wealth attributed to Musk’s company stakes and other assets. It should not be read as money in a bank account, an amount he could spend immediately, or a valuation confirmed by Tesla or SpaceX. The reporting names the Bloomberg Billionaires Index as the estimate source, but does not establish a full calculation methodology or independently verify the share counts.
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Fortune estimated that Musk held approximately 4.76 billion SpaceX shares, including 1.3 billion unvested restricted shares, and attributed approximately $156.6 billion to his Tesla holdings. Those are Fortune’s reported estimates, not audited company disclosures or independently verified valuations of his stakes. Fortune also listed holdings in The Boring Company and Neuralink, but the cited reporting does not make those the principal drivers of the October increase.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.The trillion-dollar threshold has not meant a stable valuation
Musk’s estimate has crossed the trillion-dollar mark before and then fallen below it. Fortune reported that the Bloomberg Billionaires Index estimate moved from $1.32 trillion on June 16, 2026, to $957 billion on June 24. The Bloomberg report said he first crossed the threshold in June and later slipped below it as SpaceX shares slumped. The October figure is therefore a dated snapshot, not a permanent milestone.
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SpaceX’s private or newly traded equity valuation can also shape estimates of Musk’s stake. The Associated Press’s 2026 explainer on the SpaceX offering discusses how a public offering could affect the value attributed to that stake; it is context, not an independent estimate of Musk’s October 5 wealth.
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