Elon Musk Becomes World’s First Person to Reach $600 Billion Net Worth: Forbes

Following predictions that his SpaceX firm was expected to go public at a valuation of $800 billion, Forbes reported on December 15 that Elon Musk became the first individual ever worth $600 billion. According to a Reuters article last week, Musk, who became the first person to reach $500 billion in net worth in October, controls an estimated 42% of SpaceX, which is getting ready to go public next year.

According to Forbes, Musk's wealth would increase by $168 billion to an estimated $677 billion as a result of the SpaceX valuation. Musk's approximately 12% ownership in EV manufacturer Tesla, whose stock has increased 13% this year despite faltering sales, has also contributed to his riches. After Musk announced that the business was testing robotaxis without safety monitors in the front passenger seat, stocks increased by almost 4% on December 15.

Musk Stakes in SpaceX Most Valuable Assets

According to Forbes, Musk's estimated $336 billion investment in SpaceX is currently his most valuable asset, even in the absence of an IPO at that valuation, which would probably make him a trillionaire. With the exception of stock options from his 2018 CEO Performance Award that were revoked by a Delaware judge in January 2024, his 12% share in Tesla is valued at $197 billion.

As Musk continues to appeal the decision to the Delaware Supreme Court, Forbes has reduced the value of those options by 50%, to $69 billion. Tesla might still offer Musk another path to becoming a trillionaire if he loses that appeal. This is due to the fact that Tesla shareholders approved a record-breaking compensation package in November that, should Tesla meet "Mars shot" performance milestones, such as increasing its market capitalisation by more than eight times over the next ten years, could grant Musk up to $1 trillion in additional stock (before taxes and the cost of unlocking the restricted shares).

Musk’s Financial Journey

Reaching the $600 billion net worth milestone is just the most recent in a string of accomplishments Musk has made in the last six months. In March 2020, Musk's net worth was $24.6 billion; by August of the same year, he became the sixth person in history to be worth $100 billion due to the surge in Tesla shares. With a net worth of around $190 billion, he went on to become the richest person in the world for the first time in January 2021.

He became the third person in history to be worth $200 billion in September 2021 (he was surpassed by Jeff Bezos of Amazon and Bernard Arnault of the luxury goods company LVMH). Later, in November 2021, Musk reached $300 billion; in December 2024, $400 billion; and in October, $500 billion.

The only other individual to reach the $300 billion and $400 billion milestones is Larry Ellison of Oracle. With a $425 billion advantage over current No. 2 Google cofounder Larry Page, who is valued at an estimated $252 billion, Musk is now closer to becoming a trillionaire than losing his position as the richest person in the world. Musk might not have to wait long for his next significant accomplishment, since he is only $23 billion away from reaching the $700 billion milestone.