Elon Musk‘s net worth rebounded last week and is slowly nearing the $1 trillion mark as Tesla (NASDAQ:TSLA) and Space Exploration Technologies Corp. (NASDAQ:SPCX) shares rebound from their August lows and as analysts remain optimistic about the two companies.
Musk, the world’s richest person, added over $22 billion in wealth on Friday, bringing his net worth to over $851 billion. This means that he may regain his trillionaire status if the two companies continue rising.
SpaceX and Tesla Stocks Have Rebounded This Month
SpaceX stock ended the week at $136.9, up by 30% from its lowest level this year. Tesla, on the other hand, has soared by 22% from the July low and is about to complete filling the gap that formed after releasing its earnings in July.
Analysts covering the two companies have expressed optimism that their shares have more room to run. Benzinga data shows that the average SpaceX stock target is $228, up by 66.5% from the current level. UBS has a target of $210, while Bernstein sees the stock rising to $248.
