Elon Musk’s net worth has crossed another unprecedented threshold, moving him far closer to becoming the world’s first trillionaire as the value of his private companies continues to soar.
The latest catalyst came earlier this month, when SpaceX conducted a tender offer that pegged the rocket manufacturer’s valuation at $800 billion, double its $400 billion valuation from August, according to two SpaceX investors who spoke to Forbes. With Musk owning an estimated 42% of the company, the jump added roughly $168 billion to his fortune, lifting his net worth to an estimated $677 billion as of noon Eastern on Monday. Musk has now become the first individual ever to reach $600 billion in personal wealth, a level no one else has even approached.
SpaceX’s rapid rise may only be a prelude. One investor confirmed that the company is aiming for an initial public offering in 2026 that could value SpaceX at approximately $1.5 trillion. While multiple outlets previously reported both the tender offer and IPO ambitions, representatives for Musk and SpaceX did not respond to Forbes’ requests for comment.
Even without an IPO at that scale, SpaceX has overtaken all other holdings as Musk’s most valuable asset. Forbes estimates his SpaceX stake alone at $336 billion. By comparison, his roughly 12% ownership in Tesla is valued at about $197 billion, excluding stock options tied to his 2018 CEO Performance Award that were voided by a Delaware judge in January 2024. Forbes currently assigns a discounted value of $69 billion to those options, reflecting a 50% reduction while Musk appeals the ruling to the Delaware Supreme Court.
Should that appeal fail, Tesla could still offer Musk another path to trillionaire status. In November, shareholders approved an unprecedented compensation package that could grant Musk up to $1 trillion in additional Tesla stock, before taxes and vesting costs, if the company meets aggressive “Mars shot” performance goals, including expanding its market capitalization more than eightfold over the next decade.
Beyond SpaceX and Tesla, Musk’s artificial intelligence venture is also adding to his growing wealth. xAI Holdings is reportedly negotiating new fundraising at a valuation of $230 billion, more than twice the $113 billion valuation Musk cited when he created the company in March by combining his AI startup xAI with his social media platform X, formerly known as Twitter. Forbes estimates Musk owns about 53% of xAI Holdings, a stake worth roughly $60 billion.
Musk’s ascent past the $600 billion mark is the latest chapter in a dramatic wealth expansion that has unfolded over just five years. In March 2020, his fortune stood at $24.6 billion. By August of that year, a surge in Tesla shares made him only the fifth person ever to reach $100 billion. He first claimed the title of the world’s richest person in January 2021, with a net worth nearing $190 billion, then became just the third individual to surpass $200 billion in September 2021, following Amazon founder Jeff Bezos and LVMH chief Bernard Arnault. Musk went on to hit $300 billion in November 2021, $400 billion in December 2024, and $500 billion in October. Only Oracle founder Larry Ellison has also reached both the $300 billion and $400 billion milestones.
At this point, Musk appears far more likely to add to his record-setting wealth than to relinquish his position at the top. He currently holds an estimated $425 billion lead over second-place Larry Page, the Google cofounder whose fortune stands at about $252 billion. With Musk now just $23 billion shy of $700 billion, another historic benchmark may be close at hand.
{Matzav.com}