New global record: Elon Musk's net worth nears one trillion dollars — Forbes
Elon Musk (photo: Getty Images)
Elon Musk became the first person in the world whose wealth reached 800 billion dollars after SpaceX acquired the artificial intelligence and social media company xAI, Forbes reports.
Read also: Elon Musk's wealth tops $700 billion in historic milestone
The publication calculated that the deal, which values the combined company at 1.25 trillion dollars, increased Musk's wealth by 84 billion dollars to a record 852 billion dollars.
Before the deal, Musk owned about 42 percent of SpaceX shares worth 336 billion dollars. He also owned about 49 percent of xAI shares worth 122 billion dollars. After the merger, Musk owns 43 percent of the combined company, valued at 542 billion dollars.
This makes SpaceX Musk's most valuable asset to date. He also owns 12 percent of Tesla shares worth 178 billion dollars and Tesla stock options worth another 124 billion dollars.
Notably, Musk is now a record 578 billion dollars richer than the world's second-richest person, Google co-founder Larry Page, whose wealth is estimated at 281 billion dollars.
Growth of Musk's assets
In December last year, Elon Musk became the first person in the world whose wealth was estimated at more than 700 billion dollars.
In addition, in November, Tesla shareholders separately approved a compensation plan for Musk worth 1 trillion dollars, which is the largest corporate compensation package in history (referring to shares worth 1 trillion dollars). Investors supported his vision of transforming the electric vehicle maker into a giant in artificial intelligence and robotics.
