With $600 billion net worth, Musk on way to becoming world’s first trillionaire

New Delhi: Tesla and SpaceX CEO Elon Musk has taken another step towards becoming the world’s first trillionaire, according to reports.

With his company SpaceX reportedly launching a tender offer, valuing the firm at $800 billion, Musk’s net worth has surged by $168 billion to an estimated $677 billion, according to reports.

Musk is now the first person ever worth $600 billion or more, reports Forbes.

SpaceX is aiming for an initial public offering (IPO) next year that may value the firm at around $1.5 trillion.

Musk’s 12 per cent stake in electric vehicle maker Tesla is worth $197 billion, excluding stock options.

Moreover, Musk’s xAI Holdings is reportedly in talks to raise new funding at around $230 billion valuation. Musk owns a 53 per cent stake in xAI Holdings, worth $60 billion.

In September 2021, Musk became the third person ever worth $200 billion. He went on to reach $300 billion net worth in November 2021, $400 billion in December 2024 and $500 billion in October.

Earlier this month, Musk refuted reports that SpaceX is raising money worth $800 billion or NASA gives subsidies to his space company. The Wall Street Journal first reported that SpaceX is kicking off a secondary share sale that would value the rocket maker at $800 billion, surpassing OpenAI to make it the most valuable US private company.

“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,” said the billionaire in a series of X posts.

He further stated that valuation increments are a function of progress with Starship and Starlink and securing global direct-to-cell spectrum that greatly increases our addressable market. “And one other thing that is arguably most significant by far,” he added.
IANS