Elon Musk became the first person in history to amass a net worth of $600 billion on Monday, according to Forbes, driven largely by growing expectations that SpaceX could go public at a valuation of around $800 billion. Musk, who crossed the $500 billion mark earlier this year, owns an estimated 42% stake in SpaceX, which is reported to be preparing for a public listing next year. Forbes estimates that such a valuation could increase Musk’s wealth by about $168 billion, pushing his net worth to roughly $677 billion.
Musk’s fortune has also been supported by his holdings in Tesla, where he owns about 12% of the electric vehicle maker. Tesla shares are up around 13% this year despite slowing sales and jumped nearly 4% on Monday after Musk said the company was testing robotaxis without safety monitors in the front passenger seat. In November, Tesla shareholders approved a $1 trillion pay package for Musk, the largest compensation deal in corporate history, reflecting investor confidence in his push to transform the company into an AI and robotics powerhouse.
In addition, Musk’s artificial intelligence startup xAI is reportedly in advanced talks to raise $15 billion in new funding at a valuation of $230 billion. Musk, Tesla, SpaceX, and xAI did not immediately respond to requests for comment.