Follow Us Tesla CEO Elon Musk has now become the world’s first-ever person to cross the $600 billion net worth milestone. The Bloomberg Billionaires Index and Forbes have revised Musk’s fortune at $639.8 billion and $635.1 billion, respectively. This record net worth comes after a valuation of SpaceX which was conducted on October 10. SpaceX, in which Musk has 42%, is now valued at $800 billion after an insider share sale, as per Bloomberg. This sale also put Musk above Amazon’s Jeff Bezos to become the world’s second-richest person, behind only LVMH’s Bernard Arnault. SpaceX Worth Crossing $1 Trillion After IPO The market value of SpaceX alone now surpasses the net worths of Apple CEO Tim Cook ($779 billion), Google co-founder Larry Page ($674 billion), and Meta Platforms CEO Mark Zuckerberg ($683 billion). Add India.com as a Preferred Source “I think the market is starting to price SpaceX at a $1 trillion valuation as early as 2026 when they go public,” Chris Bendheim, managing partner and chief investment officer of Saxonment Capital, a Musk shareholder, told Bloomberg. If that happens, he added, it could “put Musk into trillionaire territory.” This valuation was well-received by investors around the world, with SpaceX becoming the most valuable private company in Texas, overtaking Tesla. The positive price action is also set to have a positive impact on Alphabet Inc, the parent company of Google, which has a stake in SpaceX, in addition to spurring tech markets overall. Valuation Of Musk’s Fortune SpaceX, however, isn’t the only component of Musk’s massive net worth. The South African-American’s other company, Tesla, also contributed massively to his rising wealth, with much of the other contributions coming from Musk’s liquidity event at SpaceX. Bloomberg says that Tesla made Musk a billionaire in 2019, and he crossed the $100 billion mark in early 2020 and the $200 billion mark in late 2020, as Tesla’s shares hit record highs. He added that Musk received $44 billion of his $64 billion fortune in the last year from 2022 alone. Tesla shareholders recently agreed to award the company’s CEO a $1 trillion compensation package in one of the most lucrative packages in corporate history. It will be paid out over time based on specific performance metrics and increases in Tesla’s market cap. Do you have any plans for all of this money? Musk also said that his net worth is used to calculate equity holdings and other financial metrics. That money isn’t liquid for me, but it is for Tesla shareholders. If they want to give me $50 billion in compensation, I’m fine with it, but it has nothing to do with me personally. About the Author