Elon Musk has regained his title as the world’s only trillionaire.
The Tesla CEO made history earlier this year by becoming the first person to be worth 13 figures following SpaceX’s blockbuster initial public offering in June. Musk’s fortunes are back down a little closer to Earth after SpaceX’s stock price plummeted after an early surge.
The rocket and AI company’s stock price has rebounded since early August, reaching $171.09 in Monday’s market. Monday’s nearly 8% increase brought Musk’s net worth back over the trillion-dollar mark, according to Forbes, which estimates his wealth at $1.046 trillion.
Musk’s wealth previously peaked on June 16 at $1.32 trillion, according to the Bloomberg Billionaires Index.
While Musk has long been considered the world’s richest man, SpaceX’s IPO put him in another stratosphere. The second and third richest people in the world on Monday were Amazon founder Jeff Bezos and Google cofounder Larry Page, who are worth $371 billion and $284 billion, respectively, according to Forbes.
Most of Musk’s net worth comes from his stake in SpaceX and Tesla, so it’s mostly tied to the success of those companies. Shares of SpaceX hit their highest level since June on Monday.