Updated Sunday 25 October 2026. Forbes’ real-time profile puts Elon Musk’s net worth at $922.9 billion as of 25 October, rank number 1, after SpaceX (SPCX) closed Friday at $147.49, up 1.89 percent, and Tesla (TSLA) closed at $372.22, down 0.63 percent (Forbes, StockAnalysis). That is $13.1 billion above Thursday’s $909.8 billion reading and $77 billion short of $1 trillion. Markets are closed on Sunday, so the figure does not move again until Monday’s open. Verdict: the trillion is a SpaceX question and this week’s SpaceX questions are Wednesday’s Fed decision, the Microsoft, Alphabet and Amazon results that set the tone for every capex-heavy stock, and whether the 80,000-cell-site talks turn into signed tower leases. SpaceX needs about $162.56, 10.2 percent above Friday’s close, to put the Forbes figure at $1 trillion with Tesla unchanged. Reference levels for the week: $876 billion below, $1,018 billion above.
Key facts
- Forbes, 25 October: $922.9 billion, number 1 in the world. Forbes counts about 38 percent of SpaceX including options and nearly 11 percent of Tesla, excluding the unvested restricted stock from the 2018 CEO award, which could add about 8 percent of Tesla on vesting before taxes (Forbes profile).
- Friday closes, 23 October: SPCX $147.49, up $2.74 or 1.89 percent from $144.75, range $144.09-$149.75, volume 110.6 million, market cap $2.00 trillion, 52-week range $104.83-$225.64, after hours $147.58; TSLA $372.22, down $2.36 or 0.63 percent from $374.58, range $365.27-$377.32, market cap $1.47 trillion, 52-week range $297.38-$498.83, after hours $372.23 (StockAnalysis).
- The arithmetic: the Forbes holdings file used on our 20 October page carries 4,766,475,230 SpaceX shares, 350,000,000 options struck at $8.40, 395,620,252 Tesla shares and $23.966 billion of private assets. At Friday’s closes those are worth $703.0 billion, $48.7 billion, $147.3 billion and $24.0 billion, which sum to $922.9 billion and reproduce the Forbes headline to the decimal. FinanceFeeds calculation.
- The week SpaceX had: $146.03 on 16 October, $159.31 after Wednesday’s 7.79 percent results-day jump, $144.75 after Thursday’s 9.14 percent fall, $147.49 on Friday. Net, the stock gained 1.0 percent over the week and Musk’s Forbes figure moved through $989 billion and $909.8 billion on the way to $922.9 billion (StockAnalysis, Forbes). Tesla finished the week $1.49 below its pre-results close of $373.71.
- Sensitivity: at Friday’s prices a 1 percent move in SpaceX is worth about $7.6 billion to Musk, including the options, and a 1 percent move in Tesla about $1.5 billion. SpaceX is 81 percent of the total. FinanceFeeds calculation.
- Friday’s SpaceX story: AT&T and T-Mobile fell as much as 6 percent and Verizon about 1.5 percent on Friday after Bloomberg’s report that SpaceX is negotiating access to at least 80,000 US cell sites. Goldman Sachs analysts led by Michael Ng wrote that tower lease agreements are “the next catalyst” and estimate a tenant pays about $50,000 a year per tower, which makes 80,000 sites roughly $4 billion of annual rent before equipment, backhaul and operations. AT&T chief executive John Stankey said of a Starlink carrier: “It’s not something that gets done overnight.” UBS’s John Hodulik called a Starlink build “an overhang” for AT&T (Yahoo Finance, 24 October).
- Starlink and Ukraine: Ukraine said on Saturday 24 October that Starlink and Starshield speeds at the front were back to pre-restriction levels after a week of throttling that Kyiv had complained about since 14 October. Musk said the restriction was imposed because Ukraine violated Starlink’s terms of service; President Trump confirmed a Wall Street Journal report that he had asked Musk to ease it (CNBC, NPR, Al Jazeera, 24 October).
- The merger file: Tesla and SpaceX have formed special committees of independent directors; Musk said a combination would need a vote of 50 percent of all shares outstanding, “quite a high hurdle”, and no terms, ratio or timetable exist. Reuters reported on Thursday that people inside the talks fear his public endorsement will bring scrutiny and delay (CNBC, Reuters). About 911.5 million insider shares became saleable as the post-IPO lock-up eased, and Q4 capex is guided at $35-$40 billion (Motley Fool).
- Politics: Forbes reported on 23 October that Musk put another $77 million into his super PAC, taking his midterm donations to nearly $450 million (Forbes).
- Bloomberg’s index: Bloomberg marks at the New York close and had Musk at $921 billion at the 20 October close and about $1.01 trillion intraday on 21 October (Benzinga, KuCoin). Its Friday close figure was not available at the time of writing; on its SpaceX-heavier stake estimates the Thursday fall and Friday bounce are worth similar amounts.
Friday put $13 billion back
Thursday took $79.2 billion off the Forbes figure, as Friday morning’s page recorded, and almost all of it came from SpaceX. Friday gave $13.1 billion of it back, and again almost all of it came from SpaceX: the 1.89 percent gain in SPCX added about $13.8 billion through the shares and options, while Tesla’s 0.63 percent fall took away about $0.9 billion. The S&P 500 and Nasdaq touched five-week lows during Friday’s session (Reuters), so SpaceX rising on a day the index fell is the cell-site report doing its work. The tower owners and the carriers priced it as real: Crown Castle was named in the talks, AT&T and T-Mobile lost as much as 6 percent, and the question Goldman’s note poses is whether signed leases follow. For Musk’s number the mechanics are the ones that have held since the IPO: a $2.00 trillion SpaceX that Forbes credits him with 38 percent of moves the total about five times as much per percentage point as a $1.47 trillion Tesla he owns 11 percent of.
What this week can do to the number
Nothing trades on Sunday, so the $922.9 billion is Friday’s closes restated, and the next moves come from a calendar rather than a filing. The Fed decides on Wednesday 28 October at 2 pm ET with CME FedWatch pricing a hold at 91-92 percent and a hike at 8-9 percent after September’s increase, so the trade is in the statement and in Chair Kevin Warsh’s press conference and whether December is signalled. Microsoft and Alphabet report after Wednesday’s close and Amazon after Thursday’s; their capex lines decide how the market treats a SpaceX that just guided $35-$40 billion of fourth-quarter spending, because Thursday’s 9 percent fall arrived on the same afternoon as Meta’s capex guide. Tesla has nothing scheduled: unsupervised FSD for owners is now a Q2 2027 item, Cybercab sales are promised by year-end, and the annual meeting is set for 3 December at Gigafactory Texas, where shareholders are asked to re-elect Musk, Robyn Denholm and J.B. Straubel (Electrek, TechCrunch, TradingView). On SpaceX the live items are tower-lease headlines, the FCC’s review of the $8 billion low-band spectrum purchase reported in early October, any statement from the two merger committees, and the insider supply from the lock-up. For the Forbes figure to print $1 trillion with Tesla at $372.22, SpaceX needs $162.56, which is above Wednesday’s $159.31 close and below Wednesday’s $166.18 intraday high. It traded there four sessions ago.
Elon Musk net worth this week: bull, base and bear
| Scenario | Net worth (Forbes basis) | What has to happen | Anchor |
|---|---|---|---|
| Bear | $876 billion | Megacap capex guides and a hawkish Warsh press conference reprice capex-heavy names, the lock-up supply meets a weak Nasdaq and SpaceX breaks Thursday’s low; Tesla’s post-results drift continues. | SPCX at $140, about 5 percent below Friday’s close and under Thursday’s $143.21 low, and TSLA at $350, near the $347 downside level on our Tesla results page; the Forbes counts give $875.8 billion, about 5 percent below the current figure. |
| Base | $914-$932 billion | Both stocks hold within a percent of Friday’s closes through the Fed and the megacap prints, and the headline stays below $1 trillion on both indexes. | Friday’s $922.9 billion plus or minus a 1 percent move in both stocks (Forbes counts at StockAnalysis prices). |
| Bull | $1,018 billion | Signed tower leases or a clean Fed turn SpaceX back toward Wednesday’s high, and Tesla buyers treat the margin and cash beat as the turn. | SPCX at $164, inside Wednesday’s $156.93-$166.18 results-day range, and TSLA at $400, the CLSA target and the upside level on our Tesla page; the Forbes counts give $1,018.4 billion and the trillion back on Forbes. |
The bear case sits below the current Forbes figure. These are reference levels computed from the verified StockAnalysis quotes and the Forbes share counts, not forecasts, and they are FinanceFeeds’ arithmetic rather than either index’s published number.
What to watch this week
- SpaceX at $162.56: the level at which the Forbes counts cross $1 trillion with Tesla at Friday’s close.
- SpaceX at $143.21: Thursday’s low; a break puts the unlock supply in charge and opens the bear level.
- Wednesday 2 pm ET: the Fed statement and Warsh’s press conference; a hold is 91-92 percent priced, so the December language is the event.
- Wednesday and Thursday after the close: Microsoft and Alphabet, then Amazon. Their capex guides set the multiple the market will pay for SpaceX’s $35-$40 billion Q4 spend.
- Tower leases: Goldman calls signed agreements the next catalyst; Crown Castle’s chief executive has said only that “we’re talking to all parties”.
- Tesla at $373.71: the pre-results close; the stock ended the week $1.49 below it.
Quick take: Forbes shows Elon Musk at $922.9 billion on Sunday 25 October after SpaceX closed Friday at $147.49 and Tesla at $372.22, $13 billion above Thursday and $77 billion short of $1 trillion. Expect $914-$932 billion while both stocks hold near Friday’s closes through Wednesday’s Fed decision and the Microsoft, Alphabet and Amazon prints. SpaceX at $140 and Tesla at $350 opens $876 billion. SpaceX at $164 and Tesla at $400 opens $1,018 billion and the trillion.
FAQ
What is Elon Musk’s net worth today?
Forbes’ real-time profile shows $922.9 billion as of 25 October 2026, rank number 1. The figure reflects Friday’s closes of $147.49 for SpaceX and $372.22 for Tesla; markets are closed on Sunday (Forbes, StockAnalysis).
Is Elon Musk a trillionaire?
Not on Forbes, at $922.9 billion. Bloomberg’s index had him above $1 trillion intraday on 21 October but marks at the close, and SpaceX’s 9 percent fall on 22 October is worth a similar amount on its basis. On the Forbes counts SpaceX needs about $162.56 with Tesla unchanged for the figure to print $1 trillion.
How much did Elon Musk gain on Friday 23 October?
About $13.1 billion on the Forbes basis, from $909.8 billion to $922.9 billion. SpaceX’s 1.89 percent gain added about $13.8 billion and Tesla’s 0.63 percent fall cost about $0.9 billion (FinanceFeeds calculation).
Why did SpaceX rise on Friday?
Bloomberg reported that SpaceX is negotiating access to at least 80,000 US cell sites, with Crown Castle among the tower owners in the talks. AT&T and T-Mobile fell as much as 6 percent and Verizon about 1.5 percent on the report (Yahoo Finance).
What happened with Starlink in Ukraine?
Ukraine said on 24 October that Starlink and Starshield speeds were restored after a week of throttling. Musk said the restriction was imposed because Kyiv violated Starlink’s terms of service, and President Trump confirmed a Wall Street Journal report that he had asked Musk to ease it (CNBC, NPR).
How much of Musk’s fortune is SpaceX?
About 81 percent. Forbes counts about 38 percent of SpaceX including options; at Friday’s close that is roughly $752 billion of the $922.9 billion, with Tesla about $147 billion and private assets about $24 billion (Forbes, FinanceFeeds calculation).
What moves the number this week?
The Fed decision on Wednesday 28 October, Microsoft and Alphabet results after Wednesday’s close and Amazon after Thursday’s, any signed tower leases for Starlink Mobile, statements from the Tesla and SpaceX merger committees, and insider selling from the eased SpaceX lock-up. A 1 percent move in SpaceX is worth about $7.6 billion and a 1 percent move in Tesla about $1.5 billion.
Sources: Forbes real-time profile (net worth, rank, stake descriptions, as of 25 October 2026); StockAnalysis (SPCX and TSLA closes, ranges, volumes, market caps, 52-week ranges, after-hours quotes and daily history, 16-23 October); Forbes holdings file via our 20 October page (share counts); Yahoo Finance (Jake Conley, 24 October: Stankey, Goldman Sachs and UBS comments, tower economics, carrier moves); CNBC, NPR and Al Jazeera (Starlink restoration, Musk and Trump comments, 24 October); CNBC and Bloomberg (merger committees and vote hurdle, 20-21 October); Reuters via US News and Motley Fool (merger-talk sources, lock-up, Q4 capex, 22 October); Forbes (Siladitya Ray, super PAC donations, 23 October); Electrek, TechCrunch and TradingView (Tesla FSD timeline, Cybercab, annual meeting, 21-24 October); CME FedWatch and Reuters poll (Fed probabilities, 24-25 October); Benzinga and KuCoin (Bloomberg Billionaires Index figures, 20-21 October).
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Stock prices are volatile. Do your own research and consult a licensed financial adviser before making investment decisions.
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