Elon Musk Becomes First Person to Exceed $600 Billion in Wealth

**SpaceX's Role in the Surge**
Forbes attributed this significant increase to the sale of shares by some SpaceX employees and investors, which allowed for a higher valuation of the private company. The magazine based its assessment on the prices at which these shares were traded, thereby boosting Musk's stake value.
Just hours before this announcement, Forbes had estimated Musk's wealth at approximately $500 billion, highlighting the rapid changes in these evaluations.
**SpaceX Valuation Doubles**
Using the sale prices of employee shares, Forbes estimated SpaceX's total value at around $800 billion, up from a previous estimate of $400 billion. With Musk holding about 40% of the company, Forbes raised its estimate of his net worth to approximately $677 billion.
**Tesla's Contribution**
Tesla remains a key component of Musk's wealth, as he owns around 12% of its shares. Despite a decline in sales, Tesla's stock has risen about 13% year-to-date and gained nearly 4% on Monday after Musk announced plans to test autonomous robot cars without safety monitoring screens in the passenger seat, according to Reuters.
**Record Compensation Package**
Last November, Tesla shareholders approved a record compensation package for Musk, estimated to be worth around $1 trillion, making it the largest in the company's history. This backing reflects investor confidence in Musk's vision to transform Tesla into a leader in artificial intelligence and robotics.
**Investments in AI**
Additionally, reports indicate that Musk's emerging AI company, xAI, is in advanced discussions to raise $15 billion through new stock issuance, with a valuation potentially reaching $230 billion, which could further enhance his wealth if the deal is finalized.
**No Official Comment**
As of now, there has been no official comment from Elon Musk or his companies Tesla, SpaceX, and xAI in response to inquiries from Reuters.
