Elon Musk became the first person in history whose net worth exceeded $800 billion. This happened after his aerospace company SpaceX acquired the artificial intelligence startup xAI, Forbes reports.
Source: Espreso
The deal increased Musk’s wealth by $84 billion — to a record $852 billion — and the total value of the combined business reached $1.25 trillion.
Before the merger, Musk owned approximately 42% of SpaceX, valued at $336 billion, as well as 49% of xAI worth $122 billion. After the deal, his stake in the combined company amounts to 43%, which is equivalent to about $542 billion.
According to Forbes estimates, SpaceX has become Elon Musk’s most valuable asset. In addition, he owns 12% of Tesla shares worth $178 billion, as well as stock options in the company valued at another $124 billion.
The calculation does not include Tesla’s record compensation package approved by shareholders in November. It could bring Musk up to an additional $1 trillion (before taxes) if the company meets ambitious goals, including increasing its market capitalization by more than eight times over the next 10 years.
Over the past four months, Musk has set four financial records: in October his wealth exceeded $500 billion for the first time, in December it surpassed $600 and $700 billion, and has now reached $852 billion. This is $578 billion more than the net worth of the world’s second-richest person, Google co-founder Larry Page, and brings Musk closer to becoming the first trillionaire in history.
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