"Elon Musk on Monday became the first person ever worth $600bn, according to Forbes. The news comes on the heels of reports that his SpaceX startup was likely to go public at a valuation of $800bn. Musk, who was the first to surpass $500bn in net worth in October, owns an estimated 42% stake in SpaceX, which is preparing to go public next year. No other person has hit the $500bn mark."
"The SpaceX valuation would strengthen Musk's wealth by $168bn to an estimated $677bn as of 12pm ET on Monday, according to Forbes. Musk's wealth also got a boost from his roughly 12% stake in EV maker Tesla, shares of which have risen 13% so far this year, despite flagging sales. They were up nearly 4% on Monday after Musk said the company was testing robotaxis without safety monitors in the front passenger seat."
Elon Musk became the first person ever worth $600 billion. His estimated 42% stake in SpaceX and the likelihood of SpaceX going public at an $800 billion valuation underpin the surge. The SpaceX valuation would add about $168 billion, raising his estimated wealth to roughly $677 billion as of 12pm ET on Monday. Musk's roughly 12% stake in Tesla benefited from a 13% year-to-date share rise and a near 4% gain after robotaxi testing remarks. Tesla shareholders approved a $1 trillion pay plan. xAI is in advanced talks to raise $15 billion at a $230 billion valuation. Musk, Tesla, SpaceX and xAI did not immediately respond to requests for comment.
Read at www.theguardian.com
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