By Progress Godfrey
The Chief Executive Officer of Tesla, Elon Musk, has broken global wealth records, emerging the first person in history with a net worth of $638 billion, according to data from Bloomberg Billionaires Index, BBI.
Musk’s fortune jumped after SpaceX launched a tender offer earlier this month that valued the company at $800 billion, a leap from $400 billion in August, according to investors cited by Forbes.
The deal boosted Musk’s wealth by an estimated $168 billion, which together with the $638 billion takes his net worth to about $677 billion as of 12 p.m., Eastern Time on Monday.
With the leap, Musk became the first individual ever worth $600 billion or more, as no other person has reached the $500 billion mark.
Musk, who owns an estimated 42 percent stake in SpaceX, now has about $336 billion tied up in the rocket manufacturer, making it his most valuable asset, Forbes estimates. SpaceX works closely with the United States’ National Aeronautics and Space Administration, NASA, and is contracted to resupply the International Space Station, while also pursuing ambitious plans for deep-space exploration.
Beyond SpaceX, Musk is the CEO of Tesla, the world’s most valuable carmaker, which produces electric vehicles and home solar battery systems. He also owns artificial intelligence and social media company xAI.
The sharp rise in Musk’s wealth has intensified speculation that he could become the world’s first trillionaire if valuations of his companies continue to climb.
World’s top 10 billionaires, according to BBI, include Elon Musk, $638bn; Larry Page, $265bn; Sergey Brin, $246bn; Jeff Bezos, $246bn; Larry Ellison, $238bn; Mark Zuckerberg, $229bn; Bernard Arnault, $202bn; Steve Ballmer, $166bn; Jensen Huang, $153bn, and Warren Buffett, $152bn.
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