Elon Musk creates history, becomes the first person in the world to have a net worth of $600 billion

News Topical, Digital Desk : Elon Musk has made history. On Monday, his net worth surpassed $600 billion, and according to Forbes, it now stands at nearly $677 billion. No human has ever been so wealthy. This surge is primarily due to his space company, SpaceX.

SpaceX's valuation recently reached $800 billion. The company is preparing to go public next year. Musk owns approximately 42% of SpaceX, which has increased his wealth by $168 billion from this valuation increase alone.

In October, he became the first person to surpass the $500 billion mark. This new record is another major achievement for him.

SpaceX will be listed

SpaceX's new valuation comes from a tender offer that doubled from $400 billion in August. The company plans an IPO in 2026, which could be the largest listing in history.

This stake sent Musk's wealth rocketing. Forbes says his net worth was $677 billion as of 12 p.m.

Musk's electric car company, Tesla, has also contributed to his wealth. Tesla shares are up 13% so far this year, despite a slight decline in sales.

Musk owns about 12% of Tesla. Shares rose about 4% on Monday after Musk said the company was testing robot taxis that don't require safety monitors in the front seat.

Tesla's new pay package

In November, Tesla shareholders approved a $1 trillion pay plan for Musk, the largest pay package in corporate history.

Investors have supported Musk's vision to transform Tesla from a mere EV company to a giant in AI and robotics, a decision that will likely strengthen Musk's wealth in the long run.

Musk's artificial intelligence company, xAI, is also in the news. Reports suggest it is in talks to raise $15 billion in new funding. This would bring the company's valuation to $230 billion. This would further expand Musk's business empire.

Musk's response?

Musk, Tesla, SpaceX, and xAI did not immediately comment on the news. But investors and markets are excited.

Musk's wealth now surpasses the second-richest person by hundreds of billions of dollars. He is on track to become the world's first trillionaire. 

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