NEW DELHI, India — Elon Musk has moved another step closer to becoming the world’s first trillionaire as his net worth has surged to an estimated $677 billion, driven by rising valuations across his sprawling business empire.
According to reports cited by Forbes, Musk is now the first individual in history to be worth $600 billion or more. The sharp increase follows a reported tender offer by SpaceX that values the private space company at about $800 billion, boosting Musk’s personal wealth by roughly $168 billion.
SpaceX is also reportedly preparing for a potential initial public offering next year that could value the company at around $1.5 trillion, further cementing Musk’s position at the top of global wealth rankings.
Musk holds about a 12 percent stake in electric vehicle maker Tesla, which is currently valued at approximately $197 billion, excluding stock options. In addition, his artificial intelligence venture, xAI Holdings, is said to be in talks to raise new funding at a valuation of around $230 billion. Musk owns a 53 percent stake in xAI Holdings, a holding estimated to be worth about $60 billion.
Musk’s wealth has grown at a historic pace in recent years. He became only the third person ever to cross the $200 billion mark in September 2021, reached $300 billion in November 2021, climbed to $400 billion in December 2024, and crossed $500 billion in October.
Earlier this month, Musk pushed back against reports suggesting SpaceX was raising money at an $800 billion valuation or that the company benefits from NASA subsidies. The Wall Street Journal had reported that SpaceX was launching a secondary share sale that would value the rocket maker at $800 billion, surpassing OpenAI to become the most valuable private company in the U.S.
“There has been a lot of press claiming @SpaceX is raising money at $800B, which is not accurate. SpaceX has been cash flow positive for many years and does periodic stock buybacks twice a year to provide liquidity for employees and investors,” Musk wrote in a series of posts on X.
He added that changes in valuation are tied to operational progress. Valuation gains, he said, reflect advances in Starship and Starlink, along with securing global direct-to-cell spectrum that significantly expands the company’s addressable market. “And one other thing that is arguably most significant by far,” he added. (Source: IANS)
