Elon Musk’s net worth surged by $30.7 billion in the past 24 hours, reaching $894.9 billion as of August 18, 2026, according to the Forbes Real-Time Billionaires ranking. The 3.55% increase solidifies his position as the world’s wealthiest individual.
The gain reflects renewed investor confidence in Musk’s core holdings, primarily SpaceX and Tesla. Forbes data indicates Musk owns approximately 38% of SpaceX, including shares and options, and nearly 11% of Tesla, excluding unvested restricted stock from his 2018 CEO performance award that could add another 8% upon vesting before taxes.
SpaceX’s public market debut on June 12, 2026, priced at $135 per share, valued the company at roughly $1.8 trillion. The initial public offering immediately added an estimated $188 billion to Musk’s fortune, briefly making him the world’s first trillionaire. By June 16, his wealth peaked near $1.4 trillion as SpaceX’s market valuation approached $3 trillion.
The rally proved short-lived. A sharp selloff beginning June 22 saw SpaceX shares drop 16% in a single session, shedding more than 30% from their peak. Across three consecutive trading days, nearly $1 trillion was erased from SpaceX’s market capitalization, reducing its valuation to around $2 trillion. Musk’s personal fortune fell by approximately $350 billion in one week, dropping to around $1.1 trillion by June 23, according to Nairametrics tracking.
Despite the volatility, SpaceX remains the primary driver of Musk’s wealth. His portfolio also includes stakes in Tesla, xAI, Neuralink, and The Boring Company, spanning electric vehicles, artificial intelligence, space exploration, tunneling technology, and brain-computer interfaces.
On the technology front, Musk recently indicated Tesla could complete the design phase of its next-generation AI6 chip by December 2026. In a post on X, he said the company could “tape out” the chip — finalizing its design for manufacturing — by year-end, aided by accelerated development using artificial intelligence. The AI6 chip is expected to power Tesla’s future autonomous driving systems and humanoid robots, part of a broader strategy to reduce reliance on third-party semiconductor suppliers. Samsung Electronics is slated to manufacture the chips under a reported $16.5 billion agreement.
The latest wealth rebound underscores how closely Musk’s fortune tracks SpaceX’s public market performance, while Tesla’s in-house chip development signals a long-term push for vertical integration in AI computing.
