The value of privately held rocket company SpaceX rose to $400 billion based on recent stock sales in the private market. The valuation was $350 billion in December. Founder Elon Musk owns 42% of SpaceX and 79% of its voting shares.
While there may be other factors, Elon Musk’s net worth recently rose $3 billion to $349 billion. This still leaves him down $83 billion since the start of 2025.
The drop in Tesla’s (NASDAQ: TSLA) stock has not been enough to offset the SpaceX advance. Tesla’s shares are down 29% this year. Its market cap has fallen to $959 billion. Musk owns 14% of the company.
Tesla has been damaged by a falloff in sales which are down over 10% this year. The figures are worse in Europe. Tesla has growing competition in China from local EV companies. Tesla’s self-driving feature is being tested in Austin. The results are inconclusive. Tesla has well funded competitors which include Google’s Waymo. The value of Tesla is based, to some extent, on these self-driving cars and its AI capabilities.
Musk owns several other companies. Another of his largest holdings is xAI, the special media and AI business. Its value has moved up because AI investments have been so hot. It may be the biggest chance for his net worth to recover.
SpaceX has a near monopoly on the rocket business. This has become more critical as more satellites and people have been launched into space. It has also built a huge network of satellites which allow it to offer broadband signals anywhere in the world. It has about 7,500 of these in orbit. Plans call for that number to go as high as 34,000.
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