Elon Musk just hit a massive, record-breaking personal net worth. And then the news comes as one of his companies, SpaceX, prepares for an IPO that will further skyrocket his wealth.
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Musk is now the first person ever worth an estimated 600 billion, according to Forbes. He had previously been the first to surpass the 500 billion mark back in October. No one else has reached 500 billion yet.
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The SpaceX IPO Factor
The news that pushed his valuation to 600 billion is directly tied to his space startup.
Valuation Spike: Reports indicate that SpaceX is likely preparing to go public (IPO) at a staggering valuation of 800 billion.
Musk’s Stake: Musk owns an estimated 42\% stake in SpaceX.
Net Worth Boost: This $800 billion valuation for SpaceX is expected to strengthen Musk’s wealth by another 168 billion, pushing his total estimated net worth to 677 billion.
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Other Wealth Drivers
Musk’s immense wealth is driven by his stakes in several hugely valuable, high-growth companies.
Tesla: His roughly 12\% stake in the EV maker got a recent bump. Shares have risen 13\% this year despite flagging sales. On Monday, shares were up nearly 4\% after Musk announced the company was testing robotaxis without safety monitors in the front passenger seat.
Here’s the kicker: Tesla shareholders approved a 1 trillion pay plan for Musk in November, the largest corporate pay package in history, endorsing his vision of turning the EV maker into an AI and robotics giant.
xAI: His artificial intelligence startup is also in advanced talks to raise 15 billion in fresh equity. This would value xAI at 230 billion, another huge bolster to his portfolio.
The thing is, Musk’s wealth is currently unparalleled in history, driven by the massive, simultaneous success of his ventures in space, electric vehicles, and AI.
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