Elon Musk may have slipped below the trillion-dollar mark, but his fortune has hardly slowed down. Between 2025 and 2026, the world’s richest person added $319.5 billion to his wealth.In July 2026, Musk’s net worth stood at $725.1 billion, compared with $405.6 billion a year earlier. The increase means that the tech mogul added roughly $875 million in additional wealth every day since last year.Musk’s fortune has also seen sharp movements linked to the performance of SpaceX. After briefly becoming the world’s first trillionaire following the initial public offering of SpaceX, his net worth reached $802 billion in the afternoon as SpaceX shares climbed.SpaceX’s stock rose 11.7% last week, reaching $129 a share, its highest level in three weeks. Musk’s net worth crossed the $800 billion mark less than two weeks after falling below $700 billion amid a decline in SpaceX shares.SpaceX earnings, spending drive stock movementThe movement in Musk’s wealth comes as SpaceX’s shares have responded to the company’s latest earnings.SpaceX reported earnings earlier this week, sending shares lower after the company disclosed a sixfold increase in quarterly spending. The company reported quarterly revenue of $7.8 billion, above Wall Street estimates of $6.9 billion.Its net losses fell to $541 million from $1 billion.SpaceX’s capital expenditure reached $18.3 billion in its latest quarter, with $15.8 billion of that spending going towards artificial intelligence.Musk owns roughly 38% of SpaceX, making the company’s stock performance closely linked to his net worth.Musk became the world’s first ever trillionaire on June 12 after SpaceX went public, with his estimated net worth reaching as high as $1.45 trillion at its peak.Musk has said SpaceX expects revenue to potentially exceed $1 trillion as early as 2029, bringing forward his initial projection by two years. The company’s main revenue driver is its Starlink satellite internet service, whose turnover nearly doubled in the second quarter.US dominates global billionaire ranksThere are currently 3,356 billionaires worldwide, with a disproportionate share concentrated in a handful of countries.The United States has the largest billionaire population, with 990 billionaires accounting for 29.5% of the global total. The country is also home to nine of the world’s 10 richest people, including Musk, Larry Page and Michael Dell.Collectively, US billionaires are worth $8.43 trillion.Canada ranks second in North America with 78 billionaires worth a combined $449.5 billion. Cryptocurrency entrepreneur Changpeng Zhao is the country’s richest billionaire, with a net worth of $107.6 billion.Mexico has 24 billionaires with a combined fortune of $258.6 billion. Business oligarch and investor Carlos Slim Helú leads the country, with a $125.4 billion fortune, making him the richest person in Latin America.Technology billionaires hold $5.30 trillionThe concentration of billionaires in technology is reflected in the enormous amount of wealth held by the sector’s richest individuals.Technology billionaires collectively hold $5.30 trillion in 2026, more than twice the combined wealth of billionaires in Finance & Investments, who collectively own $2.39 trillion.Technology is also home to eight of the world’s 10 richest people, including Musk, Page and Jeff Bezos, highlighting the fortunes generated by the world’s largest technology companies.Meanwhile, other technology stocks also surged on Friday. Palantir shares were up more than 9% around 12:30 pm EDT, while Microchip Technology continued climbing, gaining 14%.The rally came after an underwhelming jobs report that recorded a loss of 23,000 jobs in July.
