By Ayo Kehinde
Billionaire entrepreneur and technology visionary, Elon Musk, has made global financial history after becoming the first individual to surpass a net worth of $600 billion, cementing his position as the wealthiest person ever recorded.
According to Forbes, Musk’s fortune stood at an estimated $677 billion as of 12 p.m. U.S. Eastern Time on Monday, driven largely by a sharp surge in the valuation of his private aerospace company, SpaceX.
Earlier this month, SpaceX completed a tender offer that valued the company at $800 billion, doubling its valuation from $400 billion in August. Musk, who owns approximately 42 per cent of the company, saw his personal wealth rise by about $168 billion from the revaluation alone.
The dramatic increase has intensified speculation that SpaceX could be heading for an initial public offering in 2026. Market analysts suggest such an IPO could value the company at up to $1.5 trillion, potentially positioning Musk as the world’s first trillionaire, even without factoring in his other business interests.
Forbes reports that Musk’s stake in SpaceX, now estimated at $336 billion, has overtaken the value of his holdings in electric vehicle maker, Tesla. His 12 per cent stake in Tesla is currently valued at about $197 billion.
Musk’s growing fortune is also supported by his artificial intelligence company, xAI Holdings, which is reportedly raising capital at a valuation of $230 billion, more than double its $113 billion valuation earlier in the year. With Musk owning roughly 53 per cent of xAI, his stake in the company is valued at about $60 billion.
Despite a setback earlier this year, when a Delaware judge voided Musk’s Tesla stock options from his 2018 CEO performance award, his overall wealth remains unrivalled.
Musk’s financial dominance is further highlighted by the fact that he is currently about $425 billion wealthier than the world’s second-richest individual, Google co-founder Larry Page.
With SpaceX, Tesla, xAI and other ventures continuing to reshape global technology and industry, Musk’s unprecedented rise underscores a new era of wealth accumulation driven by innovation and high-stakes entrepreneurship.
