Elon Musk Nears $1 Trillion, Becomes First to Hit $600 Billion

Washington – The world’s richest person, Elon Musk, has set an unprecedented record in wealth accumulation. According to a Bloomberg report, the owner of Tesla and SpaceX has become the first individual in history to approach the $600 billion mark in net worth.

The increase came after SpaceX’s valuation reached $800 billion, boosting Musk’s wealth by $167 billion on December 15. This surge brought his total net worth to $638 billion, making him $373 billion richer than the world’s second-richest person, Larry Page, who is valued at $265 billion. Over the course of 2024, Musk’s net worth has increased by $205 billion.

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Musk owns 42% of SpaceX, which is preparing to launch its shares to the public next year. In addition to SpaceX, Musk holds a 12% stake in Tesla, which has contributed to a 13% increase in his wealth this year. On December 15, a rise in Tesla’s stock value further boosted his wealth by nearly 4%. In November 2025, Tesla shareholders approved a compensation package worth $1 trillion for Musk, which he will receive upon meeting certain performance milestones.

Elon Musk is now on the verge of becoming the world’s first trillionaire. A “trillionaire” refers to someone whose net worth reaches $1 trillion, a milestone that Musk is expected to achieve in 2026, especially if SpaceX goes public.