Elon Musk, the founder of SpaceX and Tesla, is now the first person in history whose net worth has exceeded $800 billion, according to Forbes magazine. The rise in his fortune came after his rocket maker SpaceX acquired his artificial intelligence and social media company xAI, Forbes said.
It explained that the deal values the combined company at $1.25 trillion, bringing Musk $84 billion and increasing his fortune to a record $852 billion.
Before the deal, Musk owned about 42% of SpaceX, which is about $336 billion, based on a tender offer launched in December that valued the rocket maker at $800 billion, Forbes wrote. The business magazine said the South Africa-born billionaire also owned a 49% stake in xAI worth $122 billion. Following the merger, his stake in the combined company is estimated at 43%, or $542 billion, making SpaceX his most valuable asset now.
The billionaire also owns a 12% stake in Tesla, worth $178 billion, and Tesla stock options, worth an additional $124 billion. Late last year, shareholders voted to support a pay package for CEO Musk that paves the way for him to become the world’s first trillionaire. The $1 trillion package “consists of 12 tranches of shares to be granted if Tesla hits certain milestones over the next decade,” said CNBC, and could expand the billionaire’s stake in the company to 25%.
This is the second time in less than a year that Musk has merged his companies. Last March, he combined his artificial intelligence company xAI with the X social media company in a deal that valued xAI at $80 billion and X at $33 billion.
In just four months, Musk has set four net worth records. In October, he became the first person ever worth $500 billion as Tesla’s stock soared following Musk’s decision to leave President Donald Trump’s Department of Government Efficiency (DOGE) to pay close attention to the electric vehicle maker.
On December 15, Musk became the first person ever worth $600 billion, after private investors valued SpaceX at $800 billion. Four days later, he became the first person ever worth $700 billion following the decision of the Delaware Supreme Court to restore his Tesla stock options after they were voided by a lower court in 2024.
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