Elon Musk has become the first person in history to amass a fortune of $600 billion, according to financial data from Forbes. This landmark was reached on Monday, 21 September, propelled by the soaring valuation of his aerospace company, SpaceX, which is preparing for a potential public listing.
The SpaceX Effect: A Colossal Valuation Boost
The primary driver behind Musk's latest financial milestone is the anticipated initial public offering (IPO) of SpaceX. Reports suggest the company could go public at a staggering valuation of $800 billion. Musk owns an estimated 42% stake in SpaceX, and this flotation alone is projected to increase his personal wealth by a colossal $168 billion. If the IPO proceeds as speculated, his total net worth would reach an estimated $677 billion.
This achievement follows Musk becoming the first person to surpass the $500 billion mark in net worth back in October. No other individual has yet reached that financial height.
Tesla and AI Ventures Fuel Further Growth
Musk's wealth is not solely tied to SpaceX. His approximately 12% stake in Tesla continues to be a significant contributor. Despite reports of flagging sales, Tesla's share price has risen 13% so far this year. Shares saw a near 4% jump on Monday after Musk announced the company was testing robotaxis without safety monitors in the front seat.
In a historic move last November, Tesla shareholders approved a $1 trillion pay package for Musk, the largest corporate compensation plan ever, backing his vision to transform the electric vehicle maker into a leader in artificial intelligence and robotics.
Adding another layer to his empire, Musk's artificial intelligence startup, xAI, is in advanced talks to raise $15 billion in new equity at a valuation of $230 billion, as reported by the Wall Street Journal.
An Unprecedented Financial Trajectory
The convergence of these factors—a blockbuster SpaceX IPO, resilient Tesla stock, and ambitious AI funding—places Elon Musk on a financial trajectory unmatched in modern history. His combined holdings across these disruptive companies create a wealth engine that continues to redefine the limits of personal fortune.
Representatives for Elon Musk, Tesla, SpaceX, and xAI did not immediately respond to requests for comment on the Forbes estimates and the reported IPO plans.
