Elon Musk net worth soars past $600 billion, driven by SpaceX valuation, making him the wealthiest person in history
Elon Musk has become the first person in history to surpass a net worth of $600 billion, with Forbes estimating his fortune at $677 billion as of 12 p.m. Eastern Time on Monday.
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The record-breaking wealth increase is largely attributed to a sharp rise in the valuation of Musk’s private space company, SpaceX.
Earlier this month, SpaceX completed a tender offer that valued the company at $800 billion, doubling its August valuation of $400 billion, according to Forbes.
Musk owns an estimated 42% stake in SpaceX, with the higher valuation alone adding approximately $168 billion to his net worth.
The tender offer comes as SpaceX prepares for a potential initial public offering in 2026, which investors estimate could value the company at $1.5 trillion.
Such a listing would likely make Musk the world’s first trillionaire, even before considering gains from his other holdings.
Forbes notes that Musk’s $336 billion stake in SpaceX is now his most valuable asset, surpassing his 12% holding in Tesla, worth about $197 billion.
Other contributors to Musk’s fortune include his AI company, xAI Holdings, which he formed by merging it with his social media company X.
The company is raising funds at a $230 billion valuation, more than double its $113 billion valuation in March. Musk owns 53% of xAI Holdings, valued at roughly $60 billion.
Tesla stock options from his 2018 CEO performance award, voided by a Delaware judge in January 2024, are discounted to $69 billion pending appeal to the Delaware Supreme Court.
Musk’s net worth lead over the world’s second-richest person, Google co-founder Larry Page, is estimated at $425 billion, positioning him closer to $700 billion than at risk of losing the top spot.
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Forbes highlighted the historic nature of Musk’s wealth milestone, noting the combination of SpaceX, Tesla, and AI ventures as the driving force behind the record.
David Okere is a journalist and contributor to Freelanews.com, covering business, governance, public affairs, and human-interest stories with a commitment to accuracy, balance, and public interest reporting.
