Startup valuation, likely to go public at $800bn, will bolster Musk’s wealth to an estimated $677bn, according to Forbes
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.
