Elon Musk has become the first person in history to reach a net worth of $600 billion, according to Forbes. The sharp rise in his wealth is mainly due to growing expectations that SpaceX, his private space company, is preparing for an initial public offering (IPO) in the coming years.
SpaceX’s valuation has surged sharply as investor interest in the space industry grows. Reports suggest the company could be valued at around $800 billion when it goes public, possibly by 2026. Musk owns about 42 percent of SpaceX, making it the single largest contributor to his personal wealth. If the IPO goes ahead at the expected valuation, his net worth could rise even further.
Apart from SpaceX, Musk’s fortune is also supported by his stake in Tesla, the electric vehicle maker. He owns roughly 12 percent of Tesla, whose shares have performed strongly in recent months. Tesla remains one of the most valuable carmakers in the world and continues to play a key role in Musk’s financial standing.
Musk’s other ventures also add to his growing wealth. These include his artificial intelligence company xAI and his social media platform X. While these businesses are still evolving, investors see long-term value in Musk’s technology-driven approach and ambitious projects.
Earlier this year, Musk had already crossed the $500 billion mark, another first for any individual. The latest milestone places him far ahead of other global billionaires and sets a new benchmark for personal wealth. Market watchers say no individual in modern history has accumulated wealth at this scale.
Experts note that Musk’s fortune is closely tied to market valuations rather than cash holdings. Most of his wealth is invested in company shares, which can rise or fall with market conditions. Still, with SpaceX’s IPO on the horizon and strong investor interest in his companies, Musk’s financial influence continues to grow.
While Musk has not officially commented on the Forbes estimates or IPO plans, the numbers highlight the massive global impact of his businesses.
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