Elon Musk rewrites the wealth record book again
Billionaire entrepreneur Elon Musk has set a new historic benchmark after his rocket company SpaceX acquired his artificial intelligence firm xAI, creating a combined business valued at about $1.25 trillion, reports a Qazinform News Agency correspondent.
The deal significantly boosted Musk’s net worth, lifting it to an estimated $852 billion and making him the wealthiest individual ever recorded. Prior to the transaction, Musk held major stakes in both companies, with SpaceX already his most valuable asset following a December tender offer that valued the privately held firm at around $800 billion.
After the merger, Forbes estimates Musk controls roughly 43% of the combined entity, now valued at more than $540 billion. SpaceX has thus strengthened its position at the core of Musk’s business empire.
Beyond aerospace and artificial intelligence, Musk also owns a substantial share in Tesla, alongside stock options that could further increase his fortune if ambitious long term growth targets are met.
This is the second major consolidation involving Musk’s companies in less than a year, following the earlier merger of xAI with his social media platform X. While some analysts have questioned the internal valuations of these deals, the expected SpaceX initial public offering is likely to bring closer scrutiny from public markets.
Musk now stands nearly $580 billion ahead of the world’s second richest individual, Larry Page, underscoring the unprecedented scale of his financial lead.
Earlier, Qazinform News Agency reported that U.S. aerospace company SpaceX had announced the acquisition of the artificial intelligence startup xAI, founded by entrepreneur Elon Musk.
