Elon Musk Becomes First Individual to Exceed $600 Billion In Net Worth

Elon Musk has become the first person ever to surpass a net worth of $600 billion, with Forbes estimating his wealth at $677 billion as of 12 p.m. U.S. Eastern Time on Monday.

The jump in Musk’s fortune was largely driven by a sharp increase in the valuation of his private space company, SpaceX. Earlier this month, SpaceX completed a tender offer valuing the company at $800 billion, up from $400 billion in August, according to investors. Musk owns roughly 42% of SpaceX, meaning the higher valuation added around $168 billion to his net worth. The tender offer comes as SpaceX prepares for a potential IPO in 2026, which could value the company at about $1.5 trillion, potentially making Musk the world’s first trillionaire, even without factoring in his other holdings.

Forbes estimates that SpaceX, at $336 billion, is Musk’s most valuable asset, surpassing his 12% stake in Tesla, worth approximately $197 billion. Tesla stock options from his 2018 CEO performance award, previously voided by a Delaware judge in January 2024, are currently valued at $69 billion, pending the outcome of Musk’s appeal to the Delaware Supreme Court.

Musk’s AI venture, xAI Holdings, also contributes significantly to his wealth. The company is reportedly raising funds at a $230 billion valuation, more than double the $113 billion valuation cited when xAI was formed in March through its merger with Musk’s social media company X. Musk owns 53% of xAI Holdings, valued at about $60 billion.

With an estimated $425 billion lead over the world’s second-richest person, Google co-founder Larry Page, Musk is closer to reaching $700 billion than losing his position as the world’s richest individual.