World's richest just got richer! Elon Musk becomes first person to cross $600 bn net worth — how SpaceX's $800 bn valuation helped

Elon Musk became first person ever to have a fortune exceeding $600 billion, with the sharp rise in the value of his companies, particularly SpaceX, driving his net worth to unprecedented levels.

The latest jump follows a offer launched by SpaceX earlier this month that values the private rocket company at $800 billion, up from $400 billion in August. The transaction has pushed Musk’s estimated net worth to $677 billion as of midday Monday, according to Forbes. At this level, Musk is now closer to becoming a trillionaire than he is to the world’s second-richest individual.


Musk holds an estimated 42% stake in SpaceX, and the revised valuation has added about $168 billion to his personal wealth. No other individual has previously crossed the $600 billion mark, or even reached $500 billion, underscoring the scale of the milestone.

Investors say SpaceX is also laying the groundwork for a public listing in 2026, with a potential valuation of around $1.5 trillion. One investor confirmed the IPO target to Forbes, while noting that details of the tender offer and listing plans had already been reported by several outlets. Musk and SpaceX did not respond to Forbes’ requests for comment.

The surge has reshaped the composition of Musk’s fortune. His stake in SpaceX is now estimated at $336 billion, making it his most valuable asset. By contrast, his roughly 12% holding in Tesla is valued at $197 billion, excluding stock options tied to his 2018 CEO Performance Award.

Those options were invalidated by a Delaware judge in January 2024. While Musk has appealed the decision to the Delaware Supreme Court, Forbes has discounted the value of the options by 50%, placing them at $69 billion pending the outcome of the case.

Tesla, however, could still play a decisive role in Musk’s march towards trillionaire status. In November, shareholders approved a record pay package that could award Musk up to $1 trillion in additional Tesla stock, before taxes and the costs of unlocking restricted shares, provided the company meets so-called “Mars shot” performance targets. These include increasing Tesla’s market capitalisation more than eight times over the next decade.

Musk’s wealth also extends into artificial intelligence and social media. xAI Holdings, formed in March through the merger of Musk’s AI startup xAI and social media platform X, formerly Twitter, is reportedly seeking fresh funding at a valuation of $230 billion. That figure is more than double the $113 billion valuation Musk cited at the time of the merger. Forbes estimates Musk owns 53% of xAI Holdings, worth around $60 billion.
The scale of Musk’s current wealth marks a dramatic rise from just a few years ago. In March 2020, his fortune was estimated at $24.6 billion. A surge in Tesla shares made him the fifth person ever worth $100 billion by August that year. He topped the global rich list for the first time in January 2021 with a net worth approaching $190 billion.

Further milestones followed quickly: $200 billion in September 2021, making him only the third person to reach that level after Jeff Bezos and Bernard Arnault; $300 billion in November 2021; $400 billion in December 2024; and $500 billion in October. Only Oracle founder Larry Ellison has also reached the $300 billion and $400 billion thresholds.