Elon Musk’s wealth has reached a record high, surpassing the $600 billion mark for the first time, following a new valuation of SpaceX.
The world’s richest person is now estimated to have a net worth of approximately $638 billion, according to the Bloomberg Billionaires Index, after SpaceX was valued at around $800 billion in a private share sale that made the Texas-based rocket manufacturer the most valuable privately held company in the world. Musk is the founder and CEO of SpaceX.
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Musk’s 42% stake in the company is estimated at $317 billion after applying the private company liquidity discount.
Musk Approaching the Title of First Trillionaire
This is the first time anyone’s wealth has been estimated at over $600 billion, according to the Bloomberg Billionaires Index. Musk, 54, first reached the $100 billion mark in 2020, largely due to the sharp rise in Tesla’s value, where he also serves as CEO.
When Musk first appeared on the index in May 2013, his wealth was only $4.8 billion.
Musk’s wealth could rise further if SpaceX successfully launches an initial public offering (IPO) as early as next year, targeting a valuation of $1.5 trillion. This would increase Musk’s stake to over $625 billion, bringing him closer to becoming the world’s first trillionaire.
SpaceX is the largest company in the orbital launch sector thanks to its Falcon 9 rockets and also provides internet services through its Starlink satellite network. The company was previously valued at around $400 billion in a secondary share offering in July.
Recently, Musk has promoted plans to establish AI data centers in space.
—Agencies
