SpaceX IPO valuation would strengthen Elon Musk’s net worth by $168 billion to an estimated $677 billion, according to Forbes.
Elon Musk on Monday became the first person ever to have a net worth of $600 billion, according to Forbes, on the heels of reports that his SpaceX startup was likely to go public at a valuation of $800 billion.
Musk, who was the first to surpass $500 billion in net worth in October, owns an estimated 42% stake in SpaceX, which is preparing to go public next year. The SpaceX valuation would strengthen Musk’s wealth by $168 billion to an estimated $677 billion, according to Forbes.
Musk’s wealth also got a boost from his roughly 12% stake in Tesla Inc., shares of which have risen 13% so far this year, despite flagging sales. They were up nearly 4% on Monday after Musk said the company was testing robotaxis without safety monitors in the front passenger seat.
In November, Tesla shareholders approved a $1 trillion pay plan for Musk, the largest corporate pay package in history, as investors endorsed his vision of morphing the EV maker into an AI and robotics juggernaut.
The article originally appeared on Hindustan Times
