Elon Musk has reached a new landmark in personal wealth, becoming the first individual ever worth $600 billion or more. The surge comes after SpaceX, the rocket company he founded, launched a tender offer
valuing the firm at $800 billion, up from $400 billion in August, according to two of the company’s investors speaking to Forbes. With Musk owning roughly 42% of SpaceX, this valuation boost increased his fortune by $168 billion to an estimated $677 billion as of 12 p.m. Eastern Time on December 15.
What Drove $168-Billion Surge In A Day?
The dramatic jump in Musk’s net worth is largely tied to SpaceX’s latest valuation. The company is targeting an initial public offering in 2026 that could see it valued at around $1.5 trillion, one investor told Forbes. Even without an IPO at that scale, Musk’s estimated $336 billion stake in SpaceX now ranks as his most valuable asset.
In comparison, his 12% stake in Tesla is valued at $197 billion, excluding stock options from his 2018 CEO Performance Award, which a Delaware judge voided in January 2024. Forbes has discounted the value of those options by 50% to $69 billion, pending the outcome of Musk’s appeal to the Delaware Supreme Court.
Other Assets Fuel Musk’s Fortune
Musk also holds a 53% stake in xAI Holdings, valued at an estimated $60 billion by Forbes. The company is reportedly in discussions to raise funds at a $230 billion valuation, more than double the $113 billion valuation Musk assigned when he merged his AI startup xAI with X in March.
Additionally, Tesla could provide another path to trillionaire status. In November, shareholders approved a pay package that could award Musk up to $1 trillion in stock if the company meets ambitious performance milestones, including growing its market cap eightfold over the next decade.
A History Of Rapid Wealth Growth
Musk’s journey to $600 billion has been a rapid one. In March 2020, his net worth stood at $24.6 billion. Surging Tesla shares pushed him past $100 billion by August that year, and he became the world’s richest person for the first time in January 2021 with nearly $190 billion. Since then, he has hit $200 billion, $300 billion, $400 billion and $500 billion in net worth, leaving him now with a $425 billion lead over Google cofounder Larry Page, the world’s second-richest person.
With Musk just $23 billion shy of $700 billion, the next wealth milestone may not be far off.
