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Elon Musk's wealth has reached a new all-time high, surpassing $600 billion for the first time, driven by a new valuation of SpaceX.
The world's richest person's wealth is estimated at around $638 billion, according to the Bloomberg Billionaires Index, after SpaceX reached a valuation of nearly $800 billion in a private stock sale.
The deal made the rocket manufacturer the most valuable private company in the world. Musk is the founder and CEO of the company.
Musk's stake in the company is 42%, valued at approximately $317 billion after applying the liquidity discount for private companies.
This is the first time that an individual's wealth has been estimated to exceed $600 billion according to the Bloomberg Billionaires Index.
Musk's wealth, at age 54, first surpassed $100 billion in 2020 with the significant rise in Tesla's value, where he also serves as CEO. When his name was first listed on the index in May 2013, his wealth was no more than $4.8 billion.