Elon Musk Becomes the First Person Ever to Reach $700 Billion Net Worth

By Emmanuel Kwada 

Elon Musk, the CEO of Tesla and founder of SpaceX, has shattered yet another wealth record, becoming the first individual in history to surpass a net worth of $700 billion. According to Forbes’ real-time billionaires index, Musk’s fortune soared to approximately $749 billion following a landmark ruling by the Delaware Supreme Court that reinstated his controversial 2018 Tesla compensation package.

The court’s decision on December 19 restored stock options originally valued at $56 billion when approved, but now worth around $139 billion due to Tesla’s surging share price. This reinstatement added a massive boost to Musk’s wealth, propelling him past the $700 billion milestone just days after he became the first person to exceed $600 billion earlier in the week.

Musk’s rapid ascent has been fueled by multiple factors. A recent tender offer valued SpaceX at $800 billion—double its August valuation—adding an estimated $168 billion to his holdings, given his roughly 42% stake in the rocket company. SpaceX, which dominates commercial launches and is expanding its Starlink satellite internet service, is reportedly preparing for a potential IPO in 2026 that could push its valuation to $1.5 trillion.

Additionally, Tesla shareholders approved a new performance-based pay package in November potentially worth up to $1 trillion if ambitious targets, such as growing the company’s market cap eightfold, are met. Musk’s 12% stake in Tesla, combined with contributions from his AI venture xAI (valued at over $200 billion in recent funding talks) and other assets, further solidify his dominance.

Musk now leads the world’s richest list by a staggering margin, with a $500 billion gap over second-place Google co-founder Larry Page, estimated at around $252 billion. No other billionaire has come close to these figures; historically, only a handful, including Jeff Bezos and Bernard Arnault, have briefly crossed $200 billion.

This latest milestone continues Musk’s extraordinary wealth trajectory. From $24.6 billion in March 2020, driven initially by Tesla’s stock rally, he first became the world’s richest person in 2021 and has since hit $200 billion, $300 billion, $400 billion, $500 billion, and $600 billion in rapid succession.

As Musk edges closer to becoming the world’s first trillionaire, his companies continue to push boundaries in electric vehicles, space exploration, and artificial intelligence. Representatives for Musk and his companies have not commented on the latest valuations or court ruling.