Elon Musk’s Net Worth on Its Way to $1 Trillion

Elon Musk added $167 billion to his net worth as Tesla Inc. (NASDAQ: TSLA) announced a major step forward in its self-driving car business. That took his total to $638 billion, according to the Bloomberg Billionaires Index. That makes him the first person to break the $600 billion barrier. (Number two on Bloomberg’s list is Google c0-founder Larry Page, who has a net worth of $265 billion.)

There is speculation that Musk’s net worth will top $1 trillion when SpaceX, which he founded and of which he is the largest shareholder, goes public next year with an estimated valuation of $800 billion or more.

Tesla’s stock is up 18% in the past month. Its market cap is $1.58 trillion. Musk owns over 15% of Tesla, and a new pay package could take that figure much higher.

Musk’s net worth comes from several sources, but Tesla, SpaceX, and xAI are the primary ones. He owns about 50% of SpaceX shares but controls about 70% of the voting stock. There is speculation that the value of SpaceX could be over $1 trillion when its IPO hits the market.

xAI is a merger of social media company X and xAI, one of the world’s largest AI companies. At the time of the transaction, in March, X was valued at $33 billion ($45 billion, less its $12 billion in debt) and xAI at $80 billion. By some estimates, Musk owns about half of xAI, which is in a race with OpenAI and the AI arms of several public companies, including Alphabet.

The reason the Bloomberg figure can only be an estimate is that the value of private companies is hard to peg.

Musk’s increase in net worth is something of a phoenix risen from the ashes. Because of a rocky reputation with President Trump and a decline in Tesla sales, its stock dropped from just below $400 a share at the start of 2025 to $220 in April. It has recovered to $475.

Musk said Tesla was much closer to a fully autonomous vehicle, yesterday. If these cars go up for sale to the general public, Musk’s net worth is likely to soar again.

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