Elon Musk has made history as the first individual 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.
The surge in Musk’s wealth was largely driven by a sharp rise in the valuation of his private space company, SpaceX. Earlier this month, SpaceX completed a tender offer valuing 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, and the higher valuation alone added approximately $168 billion to his fortune. The company is preparing for a potential IPO in 2026, which could value SpaceX at around $1.5 trillion—potentially making Musk the world’s first trillionaire, even without factoring in his other holdings.
While SpaceX remains his most valuable asset, Musk also holds significant stakes in Tesla, xAI, and other ventures. His 12% stake in Tesla is worth about $197 billion, while Tesla stock options from his 2018 CEO performance award, voided by a Delaware judge in January 2024, are valued at $69 billion pending appeal.
Musk’s AI company, xAI Holdings, also contributes notably to his wealth. The firm is reportedly raising funds at a $230 billion valuation, more than double the $113 billion valuation cited in March when it merged with Musk’s social media platform X. Musk owns 53% of xAI, worth roughly $60 billion.
With an estimated $425 billion lead over Google co-founder Larry Page, the world’s second-richest individual, Musk is closer to reaching $700 billion than losing his position as the richest person globally, Forbes noted.