Musk's Net Worth Nears Trillion Mark, Driven by SpaceX

Elon Musk's net worth reached $929.4 billion as of September 13, 2026, placing him $70.6 billion short of the $1 trillion milestone, according to Forbes Real-Time Billionaires data. This valuation, based on Friday's market close, primarily reflects his holdings in SpaceX and Tesla.

SpaceX Dominates Musk's Valuation

Musk's path to a $1 trillion fortune hinges significantly on SpaceX, not Tesla. Forbes' calculations indicate that a 9.1% increase in SpaceX's share price, or $13.80, to $165.01 per share would close the remaining gap. In contrast, Tesla's stock would need to climb 48.8% to $543.90, a price point above its historical peak, to achieve the same outcome.

Each $1 movement in SpaceX's share price alters As of September 11, SpaceX closed at $151.21 and Tesla at $365.44. Each $1 movement in SpaceX's share price alters Musk's fortune by $5.12 billion, while a $1 change in Tesla's stock affects it by $0.40 billion. This weighting means Musk's wealth is, in practical terms, a concentrated position in SpaceX, which has been publicly traded for 13 weeks. Market Volatility and Trillion-Dollar Odds The prospect of Musk reaching $1 trillion by month-end is viewed with varying probabilities. Polymarket's contract for Musk's net worth on September 30 assigns a 15.9% chance of him achieving $1 trillion or more. However, an analysis rebuilding Forbes' figures and projecting stock movements over the 13 remaining September trading sessions suggests higher odds. Using the last 20 trading sessions, the probability of Musk reaching $1 trillion stands at 19.7%. Extending the analysis to the last 40 sessions increases this to 29.3%. Historical data for SpaceX supports the higher estimate: 15 out of 49 thirteen-session windows since its listing, or 30.6%, delivered the 9.1% gain now required for Musk to hit the trillion-dollar mark. Forbes Methodology and Share Holdings

Elon Musk

Forbes' net worth calculation for Musk is highly transparent, publishing the underlying holdings. The formula, derived from Forbes' disclosed positions, approximates Musk's net worth as 5.1165 times the SpaceX price plus 0.3956 times the Tesla price, with an additional $11.16 billion representing private stakes minus option exercise costs. This formula accurately reproduced Forbes' reported figures across multiple dates, including $862.39 billion on August 26, $908.22 billion on September 4, and $929.40 billion on September 11. Musk's Schedule 13G filing for SpaceX, dated August 13, reports beneficial ownership of 6,418,547,515 Class A shares, representing 48.4% of the company, including options exercisable within 60 days. His Tesla Schedule 13G/A, filed June 17, indicates 699,580,882 shares, or 19.9%, which includes 286,428,773 restricted shares subject to service-based vesting. Forbes counts 395.6 million Tesla shares, leaving a gap of 303,960,630 shares, valued at $111.1 billion at Friday's close, which were part of a 2018 award exercised in June. Based on SEC filings, Musk's Tesla stake could be $255.7 billion, significantly higher than Forbes' $144.6 billion. Unaccounted Tesla Awards and Future Growth The current valuations do not include Musk's 2025 CEO Performance Award of 423,743,904 Tesla shares. This award, which Musk disclaims beneficial ownership of until it vests, would be worth approximately $154.9 billion gross at current prices. Musk has stated that SpaceX's public listing was a funding decision for significant capital growth rather than a cash-out, noting the company has been self-funding since 2014 or 2015.

Between August 26 and September 11, Musk's net worth increased by $67.0 billion, rising from $862.4 billion to $929.4 billion. This period saw SpaceX shares gain 8.3% and Tesla shares rise 5.7%. A notable single-day increase of $53.9 billion occurred on September 3, following an analyst upgrade of SpaceX's price target to $280 from $250 by Oppenheimer's Timothy Horan.

Outlook: Share Performance and Valuation Dynamics The trajectory of Elon Musk's net worth remains closely tied to the performance of SpaceX and Tesla shares, with SpaceX holding an outsized influence. If SpaceX maintains its recent upward momentum, driven by factors such as analyst upgrades and continued operational growth, Musk could reach the $1 trillion valuation threshold within weeks. Conversely, any significant downturn in SpaceX's stock, or a broader market correction affecting high-growth technology companies, would push the milestone further out.

For the global macro picture, a $1 trillion valuation for an individual, particularly one heavily invested in space exploration and electric vehicles, could signal robust investor confidence in disruptive technologies and long-term growth sectors. For SpaceX, achieving this valuation for its primary shareholder could enhance its market perception and potentially facilitate future capital raises, reinforcing its position in the competitive space industry. Tesla, while a smaller component of Musk's current net worth, would still benefit from positive sentiment surrounding its CEO, though its independent performance drivers remain critical. The wider technology and aerospace sectors would likely interpret such a milestone as a validation of ambitious, capital-intensive ventures, potentially attracting more investment and fostering innovation.