Elon Musk's net worth soars to $677bn as SpaceX valuation takes off

NEW YORK (Web Desk) – Elon Musk’s fortune has jumped to about $677 billion, putting him in a league of his own after a sharp rise in the valuation of his aerospace company, SpaceX, Forbes reported on Monday, December 16.

According to the report, a recent tender offer has valued SpaceX at nearly $800 billion, more than doubling its worth since August. As Musk owns around 42% of the company, his wealth swelled by an estimated $168 billion in a single day — a rise that turned heads across the business world.

So far, no other individual has crossed the $500 billion mark, giving Musk a clear lead. Forbes estimates that Musk’s stake in SpaceX alone is now worth about $336 billion, making it his most valuable asset.

The valuation jump comes as SpaceX is said to be eyeing a 2026 initial public offering that could value the company at around $1.5 trillion. If that plan goes through, Musk would become the world’s first trillionaire, rewriting the record books.

Musk’s other holdings trail behind SpaceX. His roughly 12% stake in Tesla is valued at about $197 billion, while his artificial intelligence venture, xAI Holdings, is reportedly in talks to raise funds at a valuation of $230 billion.

Musk’s wealth has grown at breakneck speed. From $24.6 billion in March 2020, he crossed $100 billion later that year, $300 billion by late 2021, and $500 billion in October this year.

He now sits more than $400 billion ahead of the world’s second-richest person, Google cofounder Larry Page. At this pace, analysts say Musk’s next milestone — $700 billion — may be just around the corner.