Elon Musk's Net Worth Rebounds on SpaceX Bounce — Now Nearly 800,000x the Average American

Elon Musk became the world’s first trillionaire this year after SpaceX (NASDAQ: SPCX ) went public, only to watch his wealth drop back down to the 12-digit range.

With SpaceX stock climbing again, Musk’s net worth is also soaring and taking his multiple of the average American even higher.

Elon Musk vs.

Average American SpaceX stock has gained 18% over the last five trading days, with shares closing above their $135 IPO price Monday for the first time in weeks.

With the gain for SpaceX stock, Musk’s net worth got a boost on the week.

Musk, who is CEO of both SpaceX and Tesla Inc (NASDAQ: TSLA ) is now worth $847 billion, according to the Bloomberg Billionaires Index.

That amount is up $29.8 billion since Monday and up $37.0 billion year-to-date.

With the huge total, Musk is worth 2.86x and 2.94x more than second place Larry Page ($306 billion) and third place Jeff Bezos ($297 billion) respectively.

While Musk is worth more than double the next richest person in the world, his net worth compared to an average American is even harder to believe.

Musk is worth 799,056.6x the average net worth of an American household.

That is according to the Federal Reserve Survey of Consumer Finance from 2022.

In that survey the average household had a net worth of $1.06 million.

Net worth being the total of assets owned like real estate, cash, investments and cars divided by debts or money owed.

The average includes the wealthiest and poorest people in the country, which has some believing it may be skewed heavily towards the richest Americans.

The survey found that the median (or middle point) net worth of an American household was $192,900.

Using that figure instead would see Musk worth 4,390,876.1x than the median U.S. household.

Read Also: Should Elon Musk Give It Away? After SpaceX IPO Made Him A Trillionaire, You'd Be Amazed How Many Said 'It's His Money' Musk’s Net Worth Relies on Tesla, SpaceX Stock Musk’s net worth is made up mostly from his equity stakes in Tesla and SpaceX.

The billionaire owns around 11% of Tesla stock and around 42% of SpaceX stock.

Those stakes could go up in the future and add to Musk’s net worth thanks to record-breaking compensation plans.

Musk could earn around $1 trillion from a Tesla pay package if all milestones are met in the future.

The billionaire also has a pay compensation in place with SpaceX that could pay out one billion additional shares in the space company if milestones are met.

Musk was the first person to ever become a trillionaire.

While his wealth is down from his peak $1.32 trillion net worth after the SpaceX IPO, he remains the only person currently in reach of hitting the milestone again.

Read Also: Larry Ellison Was Once the World’s Richest Person — Now Elon Musk Is Four Times Wealthier Image via Shutterstock