Elon Musk becomes first person worth $600 billion as SpaceX soars

Elon Musk has reached a financial milestone no human has ever achieved. 

The Tesla CEO has become the first person to amass a net worth exceeding $600 billion.

Forbes reported the news on Monday, December 16, citing that the surge in the asset is due to a staggering revaluation of his aerospace company, Space X.

A recent tender offer values SpaceX at around $800 billion, doubling its valuation from just August.

As Musk owns 42% of the stake, his fortune grew by an estimated $168 billion in a single day, bringing his total net worth to roughly $677 billion.

Till now, no other individual has even crossed the $500 billion threshold.

The valuation leap comes as SpaceX reportedly targets a 2026 initial public offering (IPO) that could value the company at around $1.5 trillion. This will position Musk as the world’s first trillionaire.

SpaceX is now Musk’s most valuable asset with Forbes estimating Musk’s stakes at $336 billion.

This surpasses his 12% holding in Tesla, valued at around $197 billion, and a major stake in his artificial intelligence company, xAI Holdings, which is in talks to raise funds at a $230 billion valuation.

Musk’s wealth has ascended at a breakneck pace. From $24.6 billion in March 2020, he crossed $100 billion later that year, $300 billion in late 2021, and $500 billion this October.

He now holds a lead of over $400 billion ahead of world’s second richest person, Google cofounder Larry Page.

This trajectory suggests that Musk’s next financial milestone, $700 billion, may not be far off.