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Yes, on paper. Forbes estimated Elon Musk’s net worth at $1 trillion on Monday, October 5, 2026, after SpaceX and Tesla shares rose. That is an estimate of what his holdings are worth at quoted market prices. It is not $1 trillion in cash. The figure also differs by publisher: Bloomberg’s index put him slightly higher the next day.
What happened on October 5–6, 2026
Forbes Australia reported on October 6 that Forbes put Musk’s net worth at $1 trillion on Monday, up $30.6 billion from Friday. SpaceX and Tesla shares climbed after the market opened. At 10:30 a.m. EDT, SpaceX was up more than 5% at $167.
By the close the move was larger. 24/7 Wall St. reported that SpaceX (ticker SPCX) closed at $171.09 on October 5. Monday alone added 7.63%, and the stock was up about 15% over two sessions. The outlet tied part of the move to Morgan Stanley analyst Adam Jonas reiterating an Overweight rating and a $300 price target. That is a reported catalyst and one analyst’s opinion. It does not show what the shares are worth.
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The estimates side by side
| Source | Figure | Snapshot |
|---|---|---|
| Forbes (via Forbes Australia) | $1 trillion; up $30.6 billion over Friday | Monday, October 5, 2026 |
| Bloomberg Billionaires Index (via Cinco Días) | About $1.04 trillion; gains of more than $90 billion over recent days | Reported October 6, 2026, with SpaceX shares around $173 |
These are two separate methodologies measured at different times. The second is not an update to the first, so don’t read the gap as Musk gaining $40 billion between them.
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Why it’s “again”
According to Forbes Australia, Musk first crossed the trillion-dollar threshold in June 2026, after SpaceX began trading publicly. He later dropped below it as the shares declined, then regained it as SpaceX and Tesla rebounded.
The Associated Press reported on June 12 that SpaceX opened near $150, rose to about $168, and ended just under $161. That gave the company a reported market value of $2.1 trillion, and Forbes estimated Musk’s wealth at $1.1 trillion. Those are IPO-day numbers, not current prices. At the Nasdaq opening ceremony Musk said, in AP’s account: “Whoever you are watching this, SpaceX wants to be able to take you to the moon, take you to Mars and ultimately beyond.” That is an aspiration, not evidence for the wealth figure.
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Does Musk have a trillion dollars in cash?
No. The label describes the estimated value of his holdings, which are heavily exposed to public stock prices. Three things sit outside that number:
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- Control and constraints: control rights, sale restrictions and taxes affect what holdings can actually be turned into.
- Market impact: a very large sale would itself push the price down.
It also helps to keep three numbers apart: SpaceX’s market capitalization, Musk’s estimated stake, and his liquid cash. Only the first two move with the share price.
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Why the number can swing so fast
When most of a fortune is public stock, the estimate follows the quote. A single strong session added $30.6 billion in Forbes’ estimate, and the same arithmetic works in reverse. The October 5 close of $171.09 was still well below SpaceX’s June peak of $225.64, as reported by 24/7 Wall St.
Pressures reported by the coverage
- Lockup expirations: 24/7 Wall St. reported that insider lockups expire through December, which could put more shares on the market.
- Losses and spending: the same outlet reported a second-quarter net loss of $541 million and $18.369 billion in capital expenditures, including $15.83 billion for AI computing capacity. These are that outlet’s figures, so check company filings before relying on them.
- Earlier losses: AP reported that SpaceX lost $8.7 billion between the start of 2025 and March 31, 2026. It also noted that the company said some plans relied on “unproven technologies.”
- Valuation doubts: at the June IPO, Morningstar called SpaceX “significantly overvalued” and estimated its value at $780 billion, far below the $2.1 trillion market value AP reported.
Share-price enthusiasm and company performance are different things. The trillionaire headline reflects the first.
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- Size:Approximately 28x2.4cm (11*1.5inch) Function: Static desktop display
- For collection or display, Not suitable for children to play with Handmade, there may be minor flaws
- Model is a highly Simulated SpaceX Falcon9 Dragon+F9 Starship Heavy Falcon Falcon 9 Biock 5 rocket model. The main body of the first-stage rocket is precision aluminum alloy tube, and the rest of the rocket materials are made of high-quality imported resin-with excellent laser forming ability and long-lasting preservation
What to check before repeating the headline
- Name the publisher (Forbes, Bloomberg) and the date and time of the snapshot.
- Call it an estimate of holdings, not cash.
- Treat analyst targets such as Morgan Stanley’s $300 as opinion. A directly verified primary copy of that note was not available in the coverage reviewed.
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