Elon Musk grew to become first person ever to have a fortune exceeding $600 billion, with the sharp rise within the worth of his corporations, notably SpaceX, driving his net worth to unprecedented ranges. The newest soar follows a supply launched by SpaceX earlier this month that values the non-public rocket firm at $800 billion, up from $400 billion in August. The transaction has pushed Musk’s estimated net worth to $677 billion as of noon Monday, in accordance to Forbes. At this stage, Musk is now nearer to changing into a trillionaire than he’s to the world’s second-richest particular person. Musk holds an estimated 42% stake in SpaceX, and the revised valuation has added about $168 billion to his private wealth. No different particular person has beforehand crossed the $600 billion mark, and even reached $500 billion, underscoring the size of the milestone. Investors say SpaceX can be laying the groundwork for a public itemizing in 2026, with a possible valuation of round $1.5 trillion. One investor confirmed the IPO goal to Forbes, whereas noting that particulars of the tender supply and itemizing plans had already been reported by a number of retailers. Musk and SpaceX didn’t reply to Forbes’ requests for remark. The surge has reshaped the composition of Musk’s fortune. His stake in SpaceX is now estimated at $336 billion, making it his most precious asset. By distinction, his roughly 12% holding in Tesla is valued at $197 billion, excluding inventory choices tied to his 2018 CEO Performance Award. Those choices have been invalidated by a Delaware choose in January 2024. While Musk has appealed the choice to the Delaware Supreme Court, Forbes has discounted the worth of the choices by 50%, inserting them at $69 billion pending the result of the case. Tesla, nonetheless, may nonetheless play a decisive position in Musk’s march in the direction of trillionaire standing. In November, shareholders authorised a document pay package deal that would award Musk up to $1 trillion in extra Tesla inventory, earlier than taxes and the prices of unlocking restricted shares, supplied the corporate meets so-called “Mars shot” efficiency targets. These embody growing Tesla’s market capitalisation greater than eight occasions over the following decade. Musk’s wealth additionally extends into synthetic intelligence and social media. xAI Holdings, fashioned in March by way of the merger of Musk’s AI startup xAI and social media platform X, previously Twitter, is reportedly in search of contemporary funding at a valuation of $230 billion. That determine is greater than double the $113 billion valuation Musk cited on the time of the merger. Forbes estimates Musk owns 53% of xAI Holdings, worth round $60 billion. The scale of Musk’s present wealth marks a dramatic rise from just a number of years in the past. In March 2020, his fortune was estimated at $24.6 billion. A surge in Tesla shares made him the fifth person ever worth $100 billion by August that 12 months. He topped the worldwide wealthy listing for the first time in January 2021 with a net worth approaching $190 billion. Further milestones adopted shortly: $200 billion in September 2021, making him solely the third person to attain that stage after Jeff Bezos and Bernard Arnault; $300 billion in November 2021; $400 billion in December 2024; and $500 billion in October. Only Oracle founder Larry Ellison has additionally reached the $300 billion and $400 billion thresholds.
