"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."
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.
Read at 24/7 Wall St.
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