Elon Musk just became the first person ever worth $800 billion or more after his rocket maker SpaceX acquired his artificial intelligence and social media company xAI. Forbes estimates that the deal, which values the combined company at $1.25 trillion, boosted Musk’s fortune by $84 billion, to a record $852 billion.

Before the deal, Musk owned an estimated 42% stake in SpaceX worth $336 billion, based on a tender offer launched in December that valued the privately-held rocket maker at $800 billion. He also owned an estimated 49% stake in xAI worth $122 billion, based on a private fundraising round that valued that company at $250 billion earlier this month. After the merger, which valued SpaceX at $1 trillion and xAI at $250 billion, Forbes estimates that Musk now owns a 43% stake in the combined company worth $542 billion.

That makes SpaceX Musk’s most valuable asset by far. He also owns a 12% stake in Tesla worth $178 billion and Tesla stock options worth another $124 billion. That doesn’t include the record-breaking pay package Tesla shareholders approved in November that could give Musk up to $1 trillion in additional stock (before taxes and the cost of unlocking the restricted shares) if Tesla achieves “Mars shot” performance milestones like growing its market cap more than eightfold over the next 10 years.

This is the second time in less than a year that two of Musk’s companies have merged. Last March, Musk announced that he had combined his artificial intelligence company xAI and his social media company X (formerly Twitter) in a deal that valued xAI at $80 billion and X at $33 billion (or almost exactly what Musk paid for Twitter in 2022 excluding debt). Musk’s role as both buyer and seller in these deals has raised some questions about the valuations he has claimed. But with all of these companies now part of SpaceX, which is expected to launch an IPO later this year, they will soon face the scrutiny of the public market.

Musk has now achieved four major net worth milestones in just four months. He became the first person ever worth $500 billion in October as Tesla’s stock soared after Musk left President Trump’s Department of Government Efficiency (DOGE) to focus on the electric vehicle maker. On December 15, Musk became the first person ever worth $600 billion, after private investors valued SpaceX at $800 billion, up from $400 billion in August. Four days later, he became the first person ever worth $700 billion, after the Delaware Supreme Court restored his Tesla stock options, which were voided by a lower court in 2024.

Musk is now a record $578 billion richer than the world’s second wealthiest person, Google cofounder Larry Page, who is worth an estimated $281 billion. That means Musk is also roughly half a Larry Page away from becoming the world’s first trillionaire. (Forbes)

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