Elon Musk's net worth hits $600 billion as SpaceX preps for IPO: Forbes

Elon Musk on Monday became the first person ever to reach a net worth of $600 billion, according to Forbes.

How SpaceX IPO expectations boost Musk’s wealth

This development is following reports that his SpaceX rocket company is likely to go public with a valuation of $800 billion. Earlier this month, SpaceX had launched a tender offer valuing the company at $800 billion, up from $400 billion in August, according to the Forbes report.


The Bloomberg Billionaires Index estimated Musk’s net worth at $638 billion as of Tuesday, far ahead of Google’s founders — Larry Page is in second place with a net worth of $265 billion, and Sergey Brin is third place with a net worth of $246 billion.

Musk was also the first person to surpass $500 billion in net worth back in October. He owns approximately 42% of SpaceX, which makes it his single-most valuable asset. If the planned IPO goes ahead, it could well make him the world’s first trillionaire.

Musk’s wealth has also received a boost from Tesla, where he holds a stake of roughly 12%. Tesla shares have risen around 13% so far this year, despite slowing sales, and jumped nearly 4% on Monday after Musk revealed that the company is testing robotaxis without safety monitors in the front passenger seat.

In addition, Musk’s artificial intelligence startup, xAI, is in advanced discussions to raise $15 billion in fresh equity at a valuation of $230 billion, more than double the $113 billion valuation Musk cited when forming the company in March by merging xAI with his social media company X (formerly Twitter). Forbes estimates that he owns around 53% of xAI, pegging the value of the stake at roughly $60 billion.

Musk can also become a trillionaire without an IPO or other such factors. In November, Tesla shareholders approved a $1 trillion pay plan for the CEO, the largest in corporate history, as investors backed his ambition of transforming Tesla into a combined AI and robotics powerhouse.

Musk first became the world’s richest person in January 2021, with a net worth of nearly $190 billion.