Elon Musk is now worth over $600 billion

Elon Musk has become the first person in history to reach a net worth of $600 billion, according to Forbes estimated published on Monday.

The milestone comes as SpaceX, his space exploration company, is said to consider going public next year at a valuation of as high as $800 billion. Musk, who owns an estimated 42% stake in the company, would see his wealth increase by $168 billion from the SpaceX IPO alone, potentially pushing his total net worth to $677 billion as of Monday noon ET, Forbes calculated.

This achievement follows Musk’s previous record of becoming the first person to surpass $500 billion in net worth in October.

The billionaire’s fortune has also benefited from his approximately 12% stake in Tesla, which has seen its shares rise 13% so far this year despite challenges with sales. Tesla stock climbed nearly 4% on Monday after Musk announced the company was testing robotaxis without safety monitors in the front passenger seat.

Adding to Musk’s growing empire, his artificial intelligence venture xAI is reportedly in advanced discussions to secure $15 billion in new equity funding at a $230 billion valuation.