Elon Musk’s net worth exceeded $800 billion on Friday as SpaceX shares climbed to a three-week high during a wider rally in technology stocks. The move came as investors pushed up names including Palantir, Cloudflare and Microchip Technology after an underwhelming jobs report showed 23,000 jobs were lost in July. Around 12:30 p.m. EDT, Palantir shares were up more than 9%, while Microchip’s stock extended gains to 14%. Musk’s wealth remains closely tied to SpaceX because he owns roughly 38% of the company. He became the world’s first ever trillionaire in June after SpaceX went public, and his estimated net worth later reached as high as $1.45 trillion at its peak. SpaceX’s latest quarter showed capital expenditure of $18.3 billion, including $15.8 billion tied to artificial intelligence spending. Musk has said the company expects revenue could exceed $1 trillion as early as 2029, two years ahead of his earlier projection. A major driver is Starlink, its satellite internet service, whose turnover nearly doubled in the second quarter.