According to Forbes, Elon Musk has become the first person in history whose fortune is estimated at $600 billion. This happened after reports that his startup SpaceX is likely to go public with a valuation of $800 billion (after conversion, $800 billion remains as it is in USD). Reuters reported last week that Musk, who surpassed the $500 billion mark in October, owns about 42% of SpaceX shares, which is preparing to go public next year. Forbes reports that the valuation of SpaceX will increase Musk’s fortune to $677 billion.
Musk’s fortune has also increased due to his approximately 12% stake in the electric vehicle manufacturer Tesla. The company’s stock has risen 13% since the beginning of the year, despite a decline in sales. On Monday, December 15th, they rose nearly 4% after Musk announced that the company is testing robotaxis without humans in the front passenger seat.
Additionally, a recent shareholder approval in November saw Tesla endorse Musk’s pay plan valued at $1 trillion-a historic corporate payout package-as investors backed his vision to transform the electric car manufacturer into a giant of artificial intelligence and robotics.
Moreover, according to media reports, his artificial intelligence startup xAI is actively negotiating to attract $15 billion ($15 billion remains identical in USD) in new investments with a company valuation of $230 billion. With SpaceX’s IPO, assuming a valuation at $800 billion and Musk’s 42% shareholding, his SpaceX stake would be worth approximately $336 billion (42% of $800 billion). This, combined with his existing wealth and potential growth in Tesla and xAI, positions him to exceed any historically unprecedented wealth levels. Furthermore, Tesla’s engagement with AI and robotics suggests broader impact on market dynamics.
Recent developments include SpaceX progressing towards a key space mission, Tesla’s advancements in autonomous technologies, and potential collaborative efforts between Musk’s ventures and other tech giants in AI development.
