Elon Musk is on the brink of an unprecedented milestone in global wealth, edging closer to becoming the first individual in history with a net worth of $800 billion. The surge follows a massive $20 billion private funding round raised by xAI at a reported valuation of $250 billion, according to confirmations cited by Forbes.
The latest valuation marks a dramatic jump from the $113 billion figure Musk disclosed in March last year, when he merged xAI with his social media platform X (formerly Twitter). Forbes estimates that the deal alone increased the value of Musk’s 49% stake in xAI Holdings by approximately $62 billion, taking his share to about $122 billion.
As a result, Musk’s total fortune now stands at an estimated $780 billion, cementing his position as the world’s richest person by a historic margin on Forbes’ Real-Time Billionaires List.
AI Arms Race Fuels Wealth Surge
The explosive growth of xAI comes amid an intense global race to dominate artificial intelligence. Musk’s AI venture has been investing aggressively in infrastructure, talent, and computing power. According to internal documents reviewed by Bloomberg, xAI burned nearly $7.8 billion in cash during the first nine months of 2024 alone, underscoring the scale and ambition of its expansion.
Despite controversies surrounding its Grok chatbot—including criticism and legal challenges over the generation of fake images—investor confidence in Musk’s AI vision appears undiminished. Industry observers note that xAI’s valuation reflects not only current technology, but also Musk’s track record of transforming high-risk ventures into dominant global players.
Billionaire Backers Reap Massive Gains
The xAI funding round has also significantly boosted the fortunes of several high-profile investors. Saudi billionaire Prince Alwaleed bin Talal, one of Twitter’s earliest backers, is estimated to hold a 1.6% stake in xAI Holdings valued at around $4 billion, lifting his personal net worth to approximately $19.4 billion.
Other notable beneficiaries include Jack Dorsey, who now owns an estimated 0.8% stake worth $2.1 billion, and Larry Ellison, whose identical stake has pushed his fortune back above $240 billion.
Ellison, notably, was one of the key contributors to Musk’s $44 billion acquisition of Twitter in 2022, a move that has since evolved into the broader xAI–X ecosystem.
SpaceX Still Musk’s Crown Jewel
While xAI is rapidly emerging as a core pillar of Musk’s wealth, his most valuable asset remains SpaceX. Musk’s 42% stake in the private rocket maker is now valued at approximately $336 billion, following a recent valuation of $800 billion—double its estimated worth just months earlier.
Meanwhile, Tesla remains Musk’s second-largest holding. He owns 12% of Tesla’s common stock in addition to massive stock options, bringing the current value of his Tesla holdings to roughly $307 billion. Not included in that figure is Tesla’s controversial performance-based compensation package approved in November, which could ultimately grant Musk up to $1 trillion in additional stock if the company achieves aggressive long-term targets.
Redefining the Upper Limits of Wealth
Musk’s financial lead over other billionaires has now reached staggering proportions. He is an estimated $510 billion richer than the world’s second-wealthiest individual, Larry Page, whose net worth stands near $270 billion. Only Ellison has briefly crossed the $400 billion threshold before, and even that gap has since widened dramatically.
To put Musk’s wealth in perspective, his stake in xAI alone now exceeds the entire estimated fortune of Michael Bloomberg, ranked 16th on the global rich list.
A New Chapter in Global Capitalism
Analysts say Musk’s rise reflects a broader shift in global capitalism, where artificial intelligence, private space exploration, and vertically integrated technology empires are reshaping how wealth is created—and concentrated. Whether Musk ultimately crosses the $800 billion mark may depend on future AI breakthroughs, regulatory pressures, and market sentiment, but few doubt that he has already redefined the upper boundaries of personal fortune.
As AI, space, and electric mobility converge under his expanding empire, Musk’s trajectory continues to blur the line between science fiction ambition and financial reality.
