SpaceX and Tesla CEO Elon Musk has made history by becoming the first individual in the world to reach a net worth of $600 billion, cementing his status as the wealthiest person in modern history.
According to Forbes, the sharp increase in Musk’s wealth was driven largely by SpaceX’s soaring valuation following news that the aerospace company is preparing to go public. A recent tender offer reportedly valued SpaceX at $800 billion, pushing Musk’s net worth past the $600 billion mark. Musk had already crossed the $500 billion milestone in October this year.
Musk owns an estimated 42 per cent stake in SpaceX, which alone is believed to have added around $168 billion to his personal fortune. Reports suggest that SpaceX’s planned initial public offering (IPO) next year could value the company at as much as $1.5 trillion.
In addition to SpaceX, Musk holds approximately 12 per cent of Tesla, worth an estimated $197 billion, excluding stock options. Despite slower vehicle sales, Tesla shares have risen about 13 per cent this year, further strengthening Musk’s overall wealth. He is also reported to own a 53 per cent stake in xAI, valued at around $60 billion.
Musk’s fortune, driven by the rapid growth of Tesla, SpaceX and his artificial intelligence ventures, now exceeds the gross domestic product (GDP) of many countries.
Musk Says Money Could Become Obsolete
In the same Forbes report, Musk shared his belief that money may eventually lose its relevance. Speaking on the People by WTF podcast, he said that if artificial intelligence and robotics advance far enough to meet all human needs, traditional concepts of money could disappear.
“I think money disappears as a concept, honestly,” Musk said. “If AI and robotics are big enough to satisfy all human needs, then money is no longer necessary. Its relevance declines dramatically.”
He believes that future technologies will allow robots to build homes, grow food, manufacture goods, and provide healthcare and education at near-zero cost. In such a system, wages would no longer determine access to resources.
Musk cited author Iain M. Banks’ The Culture series as an example of a society where AI creates abundance, allowing people to focus on personal interests rather than work.
AI and Robotics Could Make Everyone Wealthy
Musk concluded by saying that artificial intelligence and robotics offer the only realistic path to universal wealth.
“There is essentially one way to make everyone wealthy, and that is through AI and robotics,” he said.
While acknowledging that such a future would require significant effort and careful integration, Musk believes these technologies could redefine the global economy and transform how people live and work. With Tesla actively developing humanoid robots, Musk’s vision suggests a future where technology not only reshapes industries but also addresses long-standing social and economic challenges.
