Elon Musk's net worth has crossed the trillion-dollar mark again, thanks to a fresh surge in SpaceX's stock following a mostly successful Starship test last week. Shares jumped nearly 8% on Monday to their highest level since mid-June, pushing Musk's net worth to about $1.03 trillion, per Forbes' real-time estimates, which factor in his stakes in both Tesla and SpaceX. The rally followed a bullish Morgan Stanley note calling SpaceX undervalued and citing momentum in AI, Starship, and government "neocloud" contracts, CNBC reports. Analysts set a $300 price target—roughly 75% above Monday's close—and flagged the next Starship test and upcoming earnings as key catalysts.
SpaceX is also drawing significant revenue from AI infrastructure deals after incorporating Musk's xAI and Cursor acquisitions, even as the company deepens its lucrative ties with the Trump administration and the Pentagon. Defense Secretary Pete Hegseth announced last week that Musk, tech entrepreneur Palmer Luckey, and former House Speaker Newt Gingrich had been chosen to steer Project Meridian, an effort to "map the trajectory of future warfare," Politico reports.
- Musk, who joined other top AI execs for a meeting with President Trump at the White House last week, has embraced the president's rebranding of AI as "super intelligence," or "SI," reports Reuters. On Sunday, he said SpaceX's AI unit, SpaceXAI, would be renamed SpaceXSI.
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