Elon Musk has reclaimed his status as the world's richest person following a rise in SpaceX shares

Elon Musk has once again become the richest person in the world following a rise in SpaceX shares

Elon Musk's fortune has once again exceeded $1 trillion thanks to the growth of SpaceX and Tesla shares. Thus, the entrepreneur regained his status as the richest person in the world, which he first achieved in June after SpaceX went public.

According to Forbes, on the morning of October 5, Musk's fortune reached $1 trillion, increasing by $30.6 billion in a single day. In second place in the ranking is Amazon founder Jeff Bezos, with a fortune of $371.5 billion.

At the start of trading on October 5, SpaceX shares rose by more than 5% to $167 per share. Tesla quotes also gained more than 1%.

The rise in SpaceX shares occurred after Morgan Stanley analysts stated that the company's securities might be undervalued. An additional factor was the successful launch of the Starship rocket into orbit last week.

Tesla shares, in turn, were supported by vehicle delivery data for the third quarter. They turned out to be higher than analysts' expectations and helped increase Musk's fortune by about $61 billion on Friday alone.

Musk first became a trillionaire in June after SpaceX shares began trading on Nasdaq, but lost this status a few days later due to a drop in SpaceX and Tesla quotes. In recent weeks, his fortune has once again approached the $1 trillion mark amid the rising shares of both companies.

According to Forbes, Musk remains the richest person in the world, significantly ahead of the runner-up, Jeff Bezos, in terms of fortune size.