New Delhi: Elon Musk has become the first person ever in the world with a net worth of USD 800 billion following SpaceX acquired his artificial intelligence firm xAI. He is now around USD 578 billion richer than Google cofounder Larry Page, the second richest person in the world with an estimated worth of USD 281 billion.
Forbes estimates that the deal increased Musk’s wealth by about USD84 billion. His total net worth now stands at around USD 852 billion. The merger values the combined company at approximately USD1.25 trillion.
Before the transaction, Musk held about 42% in SpaceX. That stake was worth nearly USD336 billion, according to forbes.com. SpaceX had received a private valuation of USD800 billion in December.
Musk also owned close to 49% of xAI. Private investors valued xAI at USD250 billion earlier this month. After the merger, Musk’s stake in the combined company rose to about 43%. Forbes values this holding at roughly USD542 billion.
SpaceX has now become Musk’s most valuable asset. He also owns around 12% of Tesla, worth about USD178 billion. His Tesla stock options add another USD124 billion to his wealth.
Tesla shareholders approved a new pay package for Musk in November. The package could give him up to USD1 trillion in additional shares. Tesla must meet long-term performance targets for the payout.
This marks the second major merger among Musk’s companies in less than a year. In March last year, Musk merged xAI with the social media platform X. The transaction placed xAI’s valuation at about USD80 billion, while X stood at nearly USD33 billion.
Musk’s role in buying and selling his own companies has drawn attention. Analysts have questioned the valuations used in these deals. However, the combined entity now sits under SpaceX which is expected to launch an initial public offering later this year. Public markets may then review these valuations closely.
