INTERNATIONAL: Elon Musk: Ruling with a $600 Billion Fortune!
Elon Musk has made history as the only individual to surpass a net worth of $600 billion.
Recent reports highlight a massive jump in his fortune, driven primarily by developments at SpaceX.
Forbes estimates his wealth reached around $677 billion by Monday afternoon in the US, marking an extraordinary single-day gain.
SpaceX Valuation Fuels the Surge
The rocket company’s pre-IPO valuation has reportedly climbed to $800 billion, according to insights shared with Forbes by investors.
This figure doubles earlier estimates from August, when SpaceX was valued at about $400 billion.
Musk holds a 42% stake in the privately owned firm, which directly contributed to a $168 billion increase in his personal wealth in just one day.
Rapid Rise Over Five Years
Musk’s financial growth has been nothing short of remarkable.
Back in March 2020, his net worth stood at $24.6 billion.
In roughly five years, it has ballooned to over $600 billion, a pace unmatched by any other billionaire in history.
He crossed the $500 billion threshold as recently as October this year.
Previously, Oracle founder Larry Ellison held the record for nearing $400 billion, but Musk has now far exceeded that level.
Key Assets Driving His Fortune
Musk’s wealth is tied to several major ventures.
- He owns approximately 12% of Tesla, the electric vehicle giant.
- A 53% stake in xAI Holdings, his artificial intelligence company, adds significant value.
- SpaceX remains the cornerstone, with its upcoming public listing expected next year.
Path to Trillionaire Status?
Recent shareholder approval of a substantial compensation package at Tesla has sparked discussions about Musk’s future wealth.
Analysts suggest this could position him to become the world’s first trillionaire in the coming years.
The combination of Tesla’s growth, SpaceX’s IPO potential, and advancements in AI continues to propel his financial trajectory upward.