![Dr Muhammad Ali Pate, CEO of Gavi Alliance. [PHOTO CREDIT: Twitter handle of Atiku Abubakar]](https://i0.wp.com/media.premiumtimesng.com/wp-content/files/2023/02/Dr-Muhammad-Ali-Pate.jpeg?fit=1080%2C720&ssl=1)
SpaceX founder Elon Musk has regained his trillionaire status after a rally in SpaceX and Tesla shares boosted his net worth by more than $60 billion, following a major decline earlier in June.
Shares of SpaceX rose 7.6 per cent, while Tesla gained 8.6 per cent as of Monday, increasing Mr Musk’s net worth by $62.3 billion to more than $1 trillion, according to Forbes.
|
|
On 24 June, the aerospace entrepreneur fell below the trillion-dollar threshold after his net worth declined by 31 per cent to an estimated $962 billion.
The decline followed a slump in SpaceX’s stock price and new restrictions on $116 billion worth of Tesla shares earlier in June.
|
|
|
|---|
Meanwhile, on 12 June, Mr Musk’s net worth rose to an estimated $1.1 trillion following SpaceX’s market listing on the Nasdaq stock exchange.
SpaceX’s stock jumped 40 per cent to an all-time high, pushing Mr Musk’s fortune to a record $1.45 trillion by 16 June before a significant drop in his net worth later in the month.
Shares surge
The surge in SpaceX and Tesla shares means Mr Musk now holds 4.8 billion shares of SpaceX and another 350 million stock options with an exercise price of $8.40 per share.
The latest development confirms that the Tesla founder remains the world’s richest person by a wide margin, ahead of Google co-founders Larry Page ($288.7 billion) and Sergey Brin ($266.3 billion).
Founded in 2002, SpaceX has grown from an experimental rocket startup into a leading force in aerospace, satellite communications, and AI infrastructure.
ALSO READ: Elon Musk loses trillionaire status as net worth drops
Its Starlink satellite internet business has expanded the company beyond space launches into a global connectivity platform.
Mr Musk built his fortune by co-founding Zip2 and PayPal before reinvesting the proceeds into SpaceX, Tesla, and other ventures.
He also owns xAI and X, which he acquired in a $44 billion deal in 2022 and later introduced monetisation features to strengthen the platform’s business.
Discover more from Premium Times Nigeria
Subscribe to get the latest posts sent to your email.
![Barrels of crude oil used to illustrate the story [PHOTO CREDIT: tradewheel.com]](https://i0.wp.com/media.premiumtimesng.com/wp-content/files/2026/04/download-6.jpg?fit=1788%2C1057&ssl=1)
