Elon Musk's Net Worth Hits 677 Billion Dollars

Elon Musk has become the first person in history to surpass a net worth of 600 billion dollars, reaching an estimated 677 billion dollars as of Monday, according to Forbes. The milestone, driven primarily by a sharp increase in the valuation of his space company SpaceX, solidifies Musk's position as the world's richest individual.

The surge in Musk's fortune stems from a recent private tender offer for SpaceX shares, which valued the company at 800 billion dollars, more than double its August estimate of 400 billion dollars. Investors familiar with the matter told Forbes that Musk holds about 42 percent of SpaceX, making his stake worth 336 billion dollars. This adjustment alone added 168 billion dollars to his wealth. SpaceX, which remains privately held, determines its value through such financing rounds and employee stock sales rather than public trading.

Musk's portfolio extends beyond SpaceX. He owns roughly 12 percent of Tesla, the electric vehicle maker, valued at about 197 billion dollars. Tesla's shares have risen nearly 4 percent on Monday and 13 percent so far this year, bolstered by Musk's announcement that the company is testing robotaxis without safety monitors in...