Elon Musk responded to criticism from Senator Bernie Sanders regarding his personal wealth. Musk stated that his assets are held in SpaceX and Tesla stock rather than as liquid cash. He emphasized that the value of his holdings fluctuates based on the performance and projected utility of his companies, which benefits all shareholders, including pension and retirement funds.
The valuation of Musk's fortune has seen significant volatility throughout 2026. Forbes currently estimates his net worth at approximately $908 billion, a decrease from the peak of $1.1 trillion reached in June. In July, his fortune dropped below $700 billion before recovering in August due to a rebound in Tesla and SpaceX share prices.
SpaceX began trading on the Nasdaq under the ticker SPCX in June with an initial price of $135 per share. The net worth of the entrepreneur is now subject to daily repricing based on Tesla delivery figures and SpaceX revenue forecasts. Market traders determine these valuations during each trading session, independent of political discourse.
