Overview
- Forbes reports Musk is the first person to surpass $600 billion in personal wealth.
- Expectations for a SpaceX listing near an $800 billion valuation are cited as the main driver, with Forbes modeling his wealth at roughly $677 billion and noting his approximately 42% stake.
- Plans for a SpaceX IPO next year have been reported, though the timing and valuation remain unconfirmed.
- Musk’s roughly 12% Tesla stake also contributed as Tesla shares rose about 13% year to date and roughly 4% on Monday after he said the company is testing driverless cars without passenger-seat monitoring screens.
- Further momentum includes November’s shareholder approval of a record Tesla pay package and media reports that X.AI is in advanced talks to raise $15 billion at an implied valuation around $230 billion.