Elon Musk has become the first person in history to surpass a net worth of $600 billion, with his fortune estimated at $677 billion as of 12 p.m. U.S. Eastern Time on Monday, according to Forbes.
The milestone was driven largely by a sharp jump in the valuation of SpaceX, Musk’s privately held space company. Earlier this month, SpaceX completed a tender offer that valued the firm at $800 billion, doubling its valuation from $400 billion in August, investors told Forbes.
Musk owns about 42 per cent of SpaceX, and the higher valuation alone added an estimated $168 billion to his wealth. The tender offer comes as SpaceX prepares for a possible initial public offering in 2026, which one investor said could value the company at around $1.5 trillion. Such an IPO could potentially make Musk the world’s first trillionaire.
SpaceX is now Musk’s single most valuable asset, with his stake estimated at $336 billion, ahead of his 12 per cent holding in Tesla, valued at about $197 billion.
Musk’s wealth also includes interests in xAI Holdings, which is reportedly seeking funding at a $230 billion valuation. He owns 53 per cent of the AI company, giving him an estimated $60 billion stake. Tesla stock options from his 2018 CEO performance award have been discounted to $69 billion, pending the outcome of his appeal to the Delaware Supreme Court after a judge voided the package in January 2024.
With an estimated $425 billion lead over the world’s second-richest person, Google co-founder Larry Page, Forbes noted that Musk is now closer to $700 billion than to losing his position as the world’s richest individual.
