As SpaceX receives a new round of valuation increases, Elon Musk's personal wealth reaches a new high, exceeding US$600 billion for the first time. According to the Bloomberg Billionaires Index, the world's richest man is currently worth nearly $638 billion. Previously, SpaceX was valued at about $800 billion in a round of internal stock transactions, making the Stabbes, Texas-based rocket maker the most valuable private company in the world. Musk is the company's founder and CEO.
After applying the non-listed company liquidity discount, Musk's 42% stake is worth approximately $317 billion.
This is the first time that the Bloomberg Wealth Index has measured personal wealth to exceed $600 billion. Musk, 54, surpassed the $100 billion mark for the first time in 2020, when the market value of Tesla (TSLA.US), where he also serves as CEO, soared. When he was included in the index in May 2013, his net worth was only $4.8 billion.
If SpaceX can successfully conduct an initial public offering (IPO) as early as next year as planned and achieve its valuation target of US$1.5 trillion, Musk's wealth will further grow. By then, the value of his holdings will exceed US$625 billion, making him expected to be close to becoming the world's first trillionaire.
SpaceX has become a leader in orbital launch with its Falcon 9 rocket and provides Internet services through the Starlink satellite system. In its last secondary offering in July this year, the company was valued at about $400 billion.
Recently, Musk has also vigorously promoted his plan to build a space-based artificial intelligence data center.