Elon Musk Makes History: Net Worth Crosses $600 Billion, Becomes World’s Richest Person
New Delhi (The Uttam Hindu): World-renowned entrepreneur Elon Musk has created history by becoming the richest individual ever. On Monday, his total net worth crossed the $600 billion mark. According to Forbes, Musk’s wealth has surged to around $677 billion, a level no individual has reached before. The sharp rise in his fortune is largely driven by his space company, SpaceX.
Recently, SpaceX’s valuation jumped to nearly $800 billion. The company is preparing to go public in the coming years. Musk owns about 42 percent of SpaceX, and the valuation increase alone added nearly $168 billion to his personal wealth.
It is noteworthy that in October, Musk had already become the first person to cross a net worth of $500 billion. Now, he has added another historic milestone to his name. SpaceX’s new valuation emerged after a tender offer held in August, which doubled the company’s value from $400 billion. Reports suggest that SpaceX is planning an IPO in 2026, which could become the largest listing in history. Forbes reported Musk’s net worth at $677 billion as of Monday afternoon.
Musk’s electric vehicle company Tesla has also contributed significantly to his growing wealth. Tesla shares have risen nearly 13 percent so far this year, despite a slight decline in overall sales. Musk holds around a 12 percent stake in Tesla. On Monday, Tesla shares gained about 4 percent after Musk announced that the company’s robotaxi testing is underway without the need for a safety monitor in the front seat.
In November, Tesla shareholders approved a pay package worth nearly $1 trillion for Musk, making it the largest compensation plan in corporate history. Investors supported Musk’s vision of transforming Tesla into not just an electric vehicle company, but a major force in artificial intelligence and robotics.
Musk’s artificial intelligence firm, xAI, is also in the spotlight. Reports indicate that the company is in talks to raise $15 billion in fresh funding, which could push its valuation to around $230 billion. This is expected to further strengthen Musk’s business empire. So far, there has been no official response from Musk, Tesla, SpaceX, or xAI on these developments. However, investors and markets are highly enthusiastic about this record-breaking achievement. Musk’s wealth is now hundreds of billions of dollars ahead of the world’s second-richest person, and he is rapidly moving toward becoming the world’s first trillionaire.