Elon Musk became the first person ever to reach a net worth of $600 billion on Monday, Forbes reported, following news that his SpaceX company could go public with an $800 billion valuation.
Musk, who had crossed the $500 billion mark in October, owns about 42% of SpaceX, which is expected to launch its IPO next year, Reuters reported last week. If the company goes public at that valuation, Musk’s wealth could rise by $168 billion, reaching roughly $677 billion as of noon ET on Monday, according to Forbes.
His fortune has also benefited from a roughly 12% stake in Tesla. Despite slowing sales, Tesla shares have gained 13% this year and rose nearly 4% on Monday after Musk revealed the company is testing robotaxis without safety monitors in the front passenger seat.
In November, Tesla shareholders approved a $1 trillion pay plan for Musk, the largest corporate compensation package ever, reflecting investor confidence in his plan to transform the EV maker into a leader in AI and robotics.
Additionally, Musk’s AI venture xAI is reportedly in advanced talks to raise $15 billion in new funding at a valuation of $230 billion.
Musk, Tesla, SpaceX, and xAI did not immediately respond to requests for comment.
