Elon Musk is now worth more than US$600bn, a new personal record after SpaceX’s surge, surpassing his previous half‑trillion peak from October
Elon Musk has once again reset the limits of personal wealth, becoming the first individual in history to surpass a net worth of US$600bn.
Elon’s fortune reached a new all-time high after SpaceX, his aerospace manufacturing company, secured a dramatically higher valuation through an insider share sale.
According to Bloomberg’s Billionaires Index, the multi-CEO of Tesla, SpaceX and xAI is worth close to US$638bn on 15 December – the increase driven primarily by SpaceX being valued at approximately US$800bn.
That deal has made the Starbase, Texas-based rocket company the most valuable private business in the world and significantly boosted Elon’s personal net worth due to his large ownership stake, according to Bloomberg.
According to Fortune, SpaceX is targeting a public listing in 2026 that could value the company at around US$1.5tn. Even without an IPO, Elon’s firm is now his most valuable asset, even outweighing his stakes in Tesla.
A portfolio beyond rockets
While SpaceX is currently the main driver behind the CEO’s latest wealth milestone, Fortune reports that his broader portfolio continued to underpin his financial dominance.
His roughly 12% stake in Tesla is valued at nearly US$200bn, while his majority ownership in xAI Holdings is estimated around US$60bn.
Combined, these holdings have pushed Elon closer to the US$700bn threshold and widened the gap further between him and the world’s second-richest man by hundreds of billions of dollars.
As of 16 December, the world’s second richest man is former Google CEO Larry Page, valued at US$265bn, followed by former CEO of Alphabet Sergey Brin at US$246bn and Amazon’s Jeff Bezos also at US$246bn.
A record pay package that raised the stakes
Elon took control of Tesla during a period of intense financial pressure, later describing that era as like “eating glass and staring into the abyss” as he fought to keep the company afloat.
The willingness to endure extreme risk paid off as Tesla’s focus under his leadership on EVs, battery technology and autonomous systems laid the groundwork for his dramatic wealth expansion in the early 2020s.
Fast forward to October 2025, Elon had already crossed another unprecedented threshold, becoming the first person ever worth half-a-trillion, a milestone that now appears to have just been a stepping stone.
His long-term approach to risk and reward paid off when Tesla’s shareholder approved a record-breaking performance-linked pay package in November tied to ambitious growth targets.
Speaking at the shareholder meeting, Elon said: “Other shareholder meetings are snooze-fests but ours are bangers. Look at this. This is sick.”
He added: “I super appreciate it.”
The package, potentially worth up to US$1tn in stock, is tied to market-capitalisation and operational milestones over the next decade, further aligning Elon’s personal wealth with Tesla’s long-term success rather than short-term compensation.
Expanding SpaceX’s reach
Beyond launches and rockets, Space X’s growing influence in global communications has also strengthened investor confidence. Through its Starlink satellite network, the company has expanded into delivering high-speed internet to underserved regions worldwide.
Speaking about Starlink’s role in expanding connectivity, SpaceX Vice President of Starlink Operations Chad Gibbs said satellite technology “bypasses the need to build massive amounts of infrastructure”, enabling faster and broader access to reliable internet.
With SpaceX’s projected value, Tesla’s long-term incentives still in play and multiple high-growth ventures under his leadership, Elon’s climb past US$600bn looks like a final destination and once again another stepping stone
