Elon Musk has achieved another major financial milestone, becoming the first person ever to surpass a $600 billion net worth. This unprecedented feat comes thanks to the soaring valuation of his space company, SpaceX.
Earlier this month, SpaceX launched a tender offer that valued the company at $800 billion, a significant jump from its $400 billion valuation in August. According to two of the company’s investors, this surge in value boosts Musk’s personal fortune by $168 billion, bringing it to an estimated $677 billion as of 12 p.m. Eastern on Monday. As a result, Musk now holds the title of the first individual to be worth over $600 billion, a milestone no one else has come close to. In comparison, the previous highest net worth reached by any individual was $500 billion.
The tender offer is part of SpaceX’s broader plans, which include an anticipated IPO in 2026 that could push the company’s valuation to $1.5 trillion. If that happens, Musk could very well become the first trillionaire in history. The tender offer and IPO plans have been reported by several outlets, but neither Musk nor SpaceX have publicly commented on the matter.
As of now, Musk’s stake in SpaceX — estimated to be 42% — is his most valuable asset, contributing $336 billion to his net worth. In addition, his 12% stake in Tesla is worth approximately $197 billion. However, the value of Musk’s stock options from his 2018 CEO performance award was recently reduced by a Delaware judge, and Forbes has discounted those options by 50%, bringing their estimated value to $69 billion. The outcome of Musk’s ongoing appeal to the Delaware Supreme Court could influence this figure.
In addition to his stakes in SpaceX and Tesla, Musk’s other venture, xAI Holdings, is reportedly in discussions to raise funding at a $230 billion valuation, more than double the $113 billion valuation it had when Musk launched the company in March. xAI was formed by merging Musk’s artificial intelligence startup with his social media platform, X (formerly Twitter). With a 53% stake in xAI, Musk’s ownership is valued at $60 billion.
This leap past the $600 billion mark adds to a series of remarkable financial milestones Musk has reached in recent years. In March 2020, Musk’s net worth stood at just $24.6 billion. By August 2020, he had surpassed $100 billion, becoming the fifth person in history to do so. In January 2021, he became the world’s richest person for the first time with a net worth approaching $190 billion. By September 2021, he became the third person ever to be worth $200 billion, behind Amazon’s Jeff Bezos and Bernard Arnault of LVMH. Musk’s fortune then reached $300 billion in November 2021, $400 billion by December 2024, and $500 billion in October 2024.
Now, Musk is closer than ever to joining the exclusive club of trillionaires. His $425 billion lead over Google co-founder Larry Page, who holds an estimated $252 billion, ensures Musk’s position as the world’s wealthiest individual remains secure. With just $23 billion to go before hitting the $700 billion milestone, Musk may not have to wait long for his next financial breakthrough.
