Elon Musk has rewritten the record books once again. According to Forbes, the Tesla and SpaceX chief has become the first person in history to surpass a net worth of $600 billion, with his fortune now estimated at $677 billion.
The surge is driven largely by the meteoric rise in the valuation of his private space company, SpaceX, which has become the crown jewel of his empire.
Earlier this month, SpaceX carried out a tender offer that valued the company at $800 billion, doubling its worth from $400 billion in August.
Musk owns about 42% of the firm, and the new valuation alone added roughly $168 billion to his personal wealth.
Investors are already speculating about a possible SpaceX initial public offering in 2026 that could value the company at $1.5 trillion.
If that happens, Musk could become the world’s first trillionaire, even without gains from his other ventures.
SpaceX, Tesla, and xAI Fuel Musk’s Fortune
Forbes estimates that Musk’s $336 billion stake in SpaceX is now his most valuable asset, eclipsing his 12% stake in Tesla, worth about $197 billion.
His Tesla stock options from the 2018 CEO performance award, voided by a Delaware judge in January 2024, remain valued at $69 billion pending appeal.
Musk’s artificial intelligence company, xAI, is also reshaping his fortune. The firm is reportedly raising funds at a $230 billion valuation, more than double the $113 billion figure Musk mentioned when xAI was formed earlier this year through a merger with social media platform X. Musk owns 53% of xAI, a stake worth about $60 billion.
With an estimated $425 billion gap between him and the world’s second-richest person, Google co-founder Larry Page, Musk is now closer to $700 billion than to losing his crown.
The question is no longer whether Musk will remain the richest man alive, but whether he will soon become the first trillionaire in history.
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