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 Monday afternoon.
The dramatic jump in Musk’s wealth has been driven largely by the soaring valuation of his private space company, SpaceX. Earlier this month, SpaceX completed a tender offer that valued the company at $800 billion, doubling its $400 billion valuation from August.
Musk owns an estimated 42 percent stake in SpaceX, and the increased valuation alone added roughly $168 billion to his personal fortune. Forbes reports that Musk’s $336 billion holding in SpaceX is now his most valuable asset, overtaking his 12 percent stake in Tesla, which is valued at about $197 billion.
The surge comes as SpaceX prepares for a potential initial public offering in 2026. Analysts suggest the company could be valued at as much as $1.5 trillion if it goes public ; a move that could make Musk the world’s first trillionaire, even without factoring in gains from his other businesses.
Musk’s wealth is also being boosted by his artificial intelligence venture, xAI Holdings. The company is reportedly raising funds at a $230 billion valuation, more than double its earlier valuation following its merger with Musk’s social media platform, X. Musk owns 53 percent of xAI Holdings, placing the value of his stake at around $60 billion.
Meanwhile, Musk’s Tesla compensation package from 2018 remains under legal review. The stock options, which were voided by a Delaware judge earlier this year, have been discounted to $69 billion pending the outcome of Musk’s appeal.
With an estimated $425 billion gap between Musk and the world’s second-richest person, Google co-founder Larry Page, Forbes notes that Musk is now closer to hitting $700 billion than losing his position as the world’s richest individual.
This milestone highlights how fast-growing private tech companies; particularly in space and artificial intelligence — are reshaping global wealth, influence, and the limits of what was once considered unimaginable.
