Elon Musk becomes the first person with a net worth over $600bn
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| Elon Musk |
Elon Musk has become the first person ever to achieve a net worth of over $600 billion. His total fortune is now estimated to be $677 billion, according to Forbes.
The big increase in Musk’s wealth is mostly due to the rapidly rising value of his private space firm, SpaceX. Earlier this month, the company ran a tender offer that valued it at $800 billion, investors told Forbes. This figure is double its $400 billion valuation from August.
Musk owns around 42% of SpaceX, and this new valuation alone added an estimated $168 billion to his personal wealth. Forbes now values his SpaceX shares at $336 billion, making it his most valuable possession.
The tender offer comes before a possible SpaceX stock market launch (Initial Public Offering) in 2026. One investor suggested this could value the firm at up to $1.5 trillion. Such a move might make Musk the world’s first trillionaire, even without further gains from his other companies.
Musk’s 12% share in Tesla is worth around $197 billion. His Tesla stock options from the 2018 CEO performance package—which a Delaware judge cancelled in January 2024—are currently valued at $69 billion, depending on the outcome of his appeal.
His artificial intelligence company, xAI, has also added a lot to his growing fortune. The company is reportedly raising money based on a valuation of $230 billion. This is more than twice the $113 billion valuation Musk mentioned earlier this year after i byts merger with the social media site X. Musk owns 53% of xAI, a stake currently worth roughly $60 billion.
Forbes points out that with an estimated $425 billion gap between him and the world’s second-richest person, Google co-founder Larry Page, Musk is now closer to a $700 billion net worth than he is to losing his spot as the world's wealthiest individual.
