Tesla CEO Elon Musk has become the first person in history to reach a net worth of USD 600 billion (Rs 49,800,000,000,000), according Forbes.
The report said Musk’s wealth rose sharply after news that his rocket company SpaceX may go public at a valuation of USD 800 billion. People familiar with the matter said Musk’s net worth increased by USD 168 billion in a single day because of this development.
Musk owns about 42% of SpaceX, which is expected to launch an initial public offering next year. If the valuation is confirmed, Forbes estimates Musk’s total wealth could rise to around USD 677 billion. Musk had earlier crossed the USD 500 billion mark in October.
His wealth also increased due to his nearly 12% stake in Tesla Inc.. Tesla shares have gained about 13% this year, even as the company faces slower sales. On Monday, the stock rose nearly 4% after Musk said Tesla was testing robotaxis without safety monitors in the front passenger seat.
In November, Tesla shareholders approved a USD 1 trillion pay package for Musk, the largest corporate compensation plan ever. Investors backed Musk’s plan to turn Tesla into a major artificial intelligence and robotics company.
Separately, Musk’s AI startup xAI is in advanced talks to raise USD 15 billion in new funding at a valuation of USD 230 billion, according to a media report.
