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. This record-breaking milestone is largely driven by a surge in the valuation of his 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 investors cited by Forbes. Musk owns an estimated 42% stake in SpaceX, meaning the higher valuation alone added roughly $168 billion to his net worth. The company is also preparing for a potential IPO in 2026, which some investors predict could value SpaceX at around $1.5 trillion, a move that would likely make Musk the world’s first trillionaire even without considering his other holdings.
Beyond SpaceX, Musk’s fortune is also shaped by his stake in Tesla, where his 12% ownership is valued at about $197 billion. Tesla stock options from his 2018 CEO performance award, voided by a Delaware judge in January 2024, remain discounted to $69 billion as he appeals to the Delaware Supreme Court.
Musk’s AI venture, xAI Holdings, has also become a significant contributor to his wealth. The company is reportedly raising funds at a $230 billion valuation, more than double the $113 billion valuation he cited when forming xAI earlier this year by merging it with his social media platform, X. Musk owns 53% of xAI Holdings, valued at approximately $60 billion.
With an estimated $425 billion lead over the world’s second-richest person, Google co-founder Larry Page, Musk’s position as the world’s richest individual appears unshakable. His rapidly growing portfolio, spanning space exploration, electric vehicles, AI, and technology, continues to redefine wealth on a global scale.
