Elon Musk Becomes First Person Worth Over $600 Billion
Billionaire 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. U.S. Eastern Time on Monday.
The surge in Musk’s wealth is largely linked to a major increase in the valuation of his private aerospace company, SpaceX.
Earlier this month, SpaceX completed a tender offer that valued the company at $800 billion—double its $400 billion valuation in August, according to Forbes sources.
Musk, who owns about 42 per cent of SpaceX, saw his personal fortune rise by roughly $168 billion from the higher valuation alone.
The tender offer comes as SpaceX is reportedly preparing for a potential initial public offering (IPO) in 2026, which could value the company around $1.5 trillion.
If this occurs, Musk could become the world’s first trillionaire, even without gains from his other ventures.
Forbes estimates Musk’s SpaceX stake at about $336 billion, making it his most valuable asset, ahead of his roughly 12 per cent holding in Tesla, valued at $197 billion.
His Tesla stock options from a 2018 CEO performance award—voided by a Delaware judge in January 2024—are now estimated at $69 billion, pending the outcome of his appeal to the Delaware Supreme Court.
Musk’s artificial intelligence company, xAI Holdings, has also boosted his fortune.
The firm is reportedly raising funds at a $230 billion valuation, more than double the $113 billion value Musk cited in March when xAI merged with his social media platform, X.
Musk owns around 53 per cent of xAI Holdings, worth approximately $60 billion.
With a $425 billion lead over the world’s second-richest person, Google co-founder Larry Page, Musk is now closer to $700 billion than to losing his position as the world’s richest individual.
Titilope Adako is a talented and intrepid journalist, dedicated to shedding light on the untold stories of Osun State and Nigeria. Through incisive reporting, she tackles a broad spectrum of topics, from politics and social justice to culture and entertainment, with a commitment to accuracy, empathy, and inspiring positive change.
