Elon Musk Becomes First Person To Hit $600 Billion Net Worth
Musk's net worth skyrocketed driven by reports that SpaceX is likely to go public at a valuation of $800 billion.
Elon Musk on Monday became the first person in history to amass a net worth of $600 billion, according to Forbes, driven by reports that SpaceX is likely to go public at a valuation of $800 billion, Reuters reported.
Musk had already crossed the $500 billion milestone in October. He owns an estimated 42% stake in SpaceX, which is preparing for a public listing next year, according to a Reuters report last week.
At the proposed valuation, SpaceX alone would add $168 billion to Musk’s fortune, lifting his estimated net worth to $677 billion as of 12 p.m. ET on Monday, Forbes said.
His wealth has also been bolstered by his roughly 12% stake in Tesla, whose shares are up 13% so far this year despite slowing vehicle sales. Tesla stock gained nearly 4% on Monday after Musk said the company is testing robotaxis without safety monitors in the front passenger seat.
In November, Tesla shareholders approved a $1 trillion pay package for Musk, the largest corporate compensation plan ever, backing his vision of transforming the EV maker into an AI and robotics powerhouse.
Meanwhile, Musk’s artificial intelligence venture xAI is in advanced talks to raise $15 billion in fresh equity at a valuation of $230 billion, according to a media report.
Musk, Tesla, SpaceX and xAI did not immediately respond to Reuters requests for comment.
