Elon Musk's net worth rose by $215 billion this year to $647 billion according to the Bloomberg Billionaires Index, while Forbes estimates exceed $700 billion. The surge is driven by expectations that SpaceX will go public with an estimated valuation of $800 billion or more, where Musk owns 43% and controls 79% of the voting power. Tesla's stock is up 21% this year with a $1.63 trillion market cap and Musk owns over 15%. A recent court outcome preserved a $139 billion stock award, and a separate pay package with long-term hurdles could be worth about $1 trillion. Valuing private companies makes exact totals uncertain, and xAI's merger and ownership stakes add further value.
"There are several reasons for the Musk wealth increase. There is speculation that Musk's net worth will top $1 trillion when SpaceX, which he founded and of which he is the largest shareholder, goes public next year with an estimated valuation of $800 billion or more. His exact ownership is 43%. However, his voting share is 79%. Tesla's stock is up 21% this year."
"xAI is a merger of social media company X and xAI, one of the world's largest artificial intelligence companies. At the time of the transaction, in March, X was valued at $33 billion ($45 billion, less its $12 billion in debt) and xAI at $80 billion. By some estimates, Musk owns about half of xAI, which is in a race with OpenAI and the AI arms of several public companies, including Alphabet."
Read at 24/7 Wall St.
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