Elon Musk on Monday became the first person to be worth $600bn (more than R10-trillion), Forbes said on the heels of reports that SpaceX is likely to go public at a valuation of $800bn.
Musk, who was the first person to surpass $500bn in net worth in October, owns an estimated 42% stake in SpaceX, which is preparing to go public in 2026, Reuters reported last week.
The SpaceX valuation strengthened Musk’s wealth by $168bn to an estimated $677bn at midday on Monday, according to Forbes.
Musk’s wealth also got a boost from his roughly 12% stake in electric vehicle (EV) maker Tesla, shares of which have risen 13% so far this year and hit a record high last week, despite flagging sales. They rose nearly 4% on Monday after Musk said the company is testing robotaxis without safety monitors in the front passenger seat but ended 3.3% weaker.
In November Tesla shareholders approved a $1-trillion pay plan for Musk, the largest corporate pay package in history, as investors endorsed his vision of morphing the EV maker into an AI and robotics juggernaut.
His xAI start-up is in advanced talks to raise $15bn in fresh equity at a valuation of $230bn, according to a media report.
Musk, Tesla, SpaceX and xAI did not immediately respond to Reuters requests for comment.
Also read:
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.