Elon Musk's march toward becoming the world's first trillionaire is becoming more like a rocket launch. Fittingly, SpaceX is at the center of Musk's net worth's accelerating pace.
Forbes reported a dramatic rise in the company's equity value, which is boosting Musk's wealth. After a recent tender offer, SpaceX is now valued at $800 billion, doubling the previous $400 billion valuation from August.
That increase is sending the company CEO's net worth soaring to an estimated $677 billion. Musk, holding a 42% stake in SpaceX, is the first individual in history to reach a net worth exceeding $600 billion.
Musk's shares of SpaceX are considered his most valuable asset, and they could skyrocket from here. The company is reportedly aiming for an initial public offering in 2026, valuing it at $1.5 trillion. That development could conceivably make Musk a trillionaire.
Lest you think that's his only path, Musk can also get to trillionaire status through his controversial record-breaking pay package with Tesla if he hits lofty performance targets. xAI holdings is another way for Musk to enrich himself, as he aims to more than double its valuation to $230 billion from $113 billion since March.
As rich as Musk is, he might be as polarizing. His current biggest driver of wealth, SpaceX, is under fire for a series of environmental controversies, like satellites plummeting to Earth. Musk's other businesses attract similar scrutiny in different ways. He abides by the "ask for forgiveness, not permission" principle with The Boring Company.
His handling of his social platform X's blue checkmarks drew a $140 million fine from the European Union, and his loose comments on technology, such as Tesla's Full-Self Driving, have gotten him into hot water. Nonetheless, it's clear that Musk's big ideas, like orbital data centers, generate huge excitement and dollars among investors, making him a very rich man.
As you'd expect, reactions to Musk's wealth status provoke a lot of outrage. One commenter called it "obscene" on X.
Another user called out his alleged past hypocrisy of cutting federal spending with the Department of Governmental Efficiency while taking in billions in contracts from NASA for SpaceX.
"He literally got this rich off the government after cutting funding for everyone else," they argued.
TCD Picks » Upway Spotlight
💡Upway makes it easy to find discounts of up to 60% on premium e-bike brands
|
Would you want to work inside a 3D-printed building?
Click your choice to see results and speak your mind. |
Sure 💯 
Get TCD's free newsletters for easy tips to save more, waste less, and make smarter choices — and earn up to $5,000 toward clean upgrades in TCD's exclusive Rewards Club.
Cool Picks
