Elon Musk becomes first person to reach $600 billion net worth as SpaceX IPO buzz lifts wealth

Elon Musk has become the first individual in history to amass a net worth of $600 billion, according to Forbes, driven by a sharp rise in valuations across his portfolio of companies, including SpaceX, Tesla and artificial intelligence venture xAI.

Musk’s wealth milestone follows reports that SpaceX is preparing for an initial public offering next year at a valuation of around $800 billion. Musk is estimated to own about 42% of the private space company, a stake that would significantly expand his personal fortune once the company lists publicly. Based on that valuation, Forbes estimates Musk’s net worth climbed to roughly $677 billion by midday Monday.

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SpaceX’s expected market debut builds on Musk’s earlier achievement of crossing the $500 billion mark in October, making him the fastest individual to scale successive wealth thresholds at this level.

Musk’s fortune has also been supported by his holdings in Tesla, where he owns roughly 12% of the electric vehicle maker. Tesla shares have risen about 13% so far this year, despite weaker vehicle sales, and gained further momentum on Monday after Musk said the company was testing robotaxis without safety monitors seated in the front passenger seat.

Investor confidence in Musk’s long-term vision was reinforced in November, when Tesla shareholders approved a compensation package valued at $1 trillion, the largest executive pay deal ever approved. The package reflects shareholder backing for Musk’s plan to transform Tesla from a carmaker into a broader artificial intelligence and robotics company.

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Beyond SpaceX and Tesla, Musk’s artificial intelligence startup xAI is also contributing to his expanding net worth. The company is reportedly in advanced discussions to raise $15 billion in new funding at a valuation of approximately $230 billion, underscoring growing investor appetite for AI-focused ventures linked to Musk.

Together, the rising valuations of Musk’s companies have cemented his position not only as the world’s richest person, but as the first to reach a level of personal wealth previously unseen in modern business history.