Elon Musk's Net Worth Exceeds $600 Billion Due to SpaceX Valuation

Elon Musk's wealth has reached a new milestone, exceeding $600 billion for the first time, fueled by the rising valuation of SpaceX.

The Bloomberg Billionaires Index estimates the world's wealthiest individual's net worth at approximately $638 billion. This surge is attributed to SpaceX's valuation reaching around $800 billion following an insider share sale. This deal positions the rocket manufacturer, based in Starbase, Texas, as the most valuable private company globally. Musk is the founder and CEO.

Musk's 42% stake in SpaceX is currently valued at $317 billion, factoring in a liquidity discount typically applied to private companies.

This marks the first instance of an individual's wealth surpassing $600 billion, as calculated by Bloomberg's wealth index. Musk initially crossed the $100 billion mark in 2020, coinciding with the soaring value of Tesla Inc., where he also holds the CEO position. Back in May 2013, when he was first included in the index, his net worth was a mere $4.8 billion.

Musk's fortune could potentially increase further if SpaceX proceeds with an initial public offering (IPO) as early as next year, targeting a valuation of $1.5 trillion. Such a valuation would place Musk's stake at over $625 billion, potentially bringing him closer to becoming the world's first trillionaire.

SpaceX currently dominates the orbital launch industry with its Falcon 9 rockets and offers internet services through its Starlink satellite system. The company was previously valued at approximately $400 billion during a secondary offering in July.

Musk has also recently announced plans for space-based artificial intelligence data centers.