With $600 billion net worth, Musk on way to becoming world’s first trillionaire

New Delhi, Dec 16 (SocialNews.XYZ) Tesla and SpaceX CEO Elon Musk has taken another step towards becoming the world’s first trillionaire, according to reports.

With his company SpaceX reportedly launching a tender offer, valuing the firm at $800 billion, Musk's net worth has surged by $168 billion to an estimated $677 billion, according to reports.

Musk is now the first person ever worth $600 billion or more, reports Forbes.

SpaceX is aiming for an initial public offering (IPO) next year that may value the firm at around $1.5 trillion.

Musk’s 12 per cent stake in electric vehicle maker Tesla is worth $197 billion, excluding stock options.

Moreover, Musk’s xAI Holdings is reportedly in talks to raise new funding at around $230 billion valuation. Musk owns a 53 per cent stake in xAI Holdings, worth $60 billion.

In September 2021, Musk became the third person ever worth $200 billion. He went on to reach $300 billion net worth in November 2021, $400 billion in December 2024 and $500 billion in October.

Earlier this month, Musk refuted reports that SpaceX is raising money worth $800 billion or NASA gives subsidies to his space company. The Wall Street Journal first reported that SpaceX is kicking off a secondary share sale that would value the rocket maker at $800 billion, surpassing OpenAI to make it the most valuable US private company.

“There has been a lot of press claiming @SpaceX is raising money at $800B, which is not accurate. SpaceX has been cash flow positive for many years and does periodic stock buybacks twice a year to provide liquidity for employees and investors,” said the billionaire in a series of X posts.

He further stated that valuation increments are a function of progress with Starship and Starlink and securing global direct-to-cell spectrum that greatly increases our addressable market. “And one other thing that is arguably most significant by far,” he added.

—IANS

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Source: IANS