Musk Is a Trillionaire Again, Thanks to SpaceX Stock Surge

[Financial News]  

Elon Musk, the world's richest person, reclaimed the 'trillionaire' title he had lost on the 5th (local time). The recovery came as Musk worked to restore his relationship with U.S. President Donald Trump and shares of his space and artificial intelligence (AI) company SpaceX recently surged.
According to the Forbes Real-Time Billionaires List, Musk's net worth rose to $1.04 trillion, or approximately KRW 1,396 trillion.
A 2.2% rise in Tesla shares and a nearly 8% jump in SpaceX stock placed Musk back among the world's first trillionaires.
The day's surge in SpaceX stock was triggered by an analysis note from Adam Jonas, a prominent Morgan Stanley analyst. The Morgan Stanley analyst team led by Jonas said SpaceX's current stock price was "cheap" and was optimistic that "future AI product launches, progress on the Starship rocket, and additional neocloud contracts" would drive the stock higher.
Morgan Stanley reaffirmed its 'Outperform (Buy)' rating and $300 price target. SpaceX closed at $171.09 that day.
SpaceX surpassed a milestone last week. On the 28th of last month, the 14th launch test of Starship, a super-heavy rocket, was successful. On the 1st, the company also successfully completed both a National Aeronautics and Space Administration (NASA) mission to send astronauts to the International Space Station (ISS) and a Google satellite launch.
Morgan Stanley recommended buying SpaceX stock before it was too late.
Another factor behind the rise in SpaceX stock—the key driver that enabled Musk to rejoin the ranks of trillionaires—was the restoration of rapport between Musk and President Trump.
As Musk recently moved to improve their relationship, he renamed SpaceX's AI division, formerly known as SpaceX AI, SpaceX SI. The move appeared to respond to Trump's recent suggestion that AI be called superintelligence (SI).
Earlier, on the 30th of last month, Musk became a co-leader of the U.S. Department of Defense's (DoD) 'Meridian Project.' The project will designate the weapons, technologies and military capabilities the U.S. military will need in future wars. The U.S. government is a key customer of SpaceX, with a significant portion of its revenue coming from government procurement. Military contracts, in particular, account for an increasing share. According to FedScout, SpaceX has earned $12.7 billion from contracts with the DoD to date.
Meanwhile, Amazon founder Jeff Bezos ranked second on Forbes' list of billionaires. His estimated net worth stood at $372.7 billion (approximately KRW 500 trillion) as of that day, just 36% of Musk's net worth.

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