"Impact of SpaceX, Tesla Compensation Plan, and xAI Growth"
The net worth of Elon Musk, CEO of Tesla and the world’s richest person, has reportedly surpassed 600 billion dollars. As a result, it is being assessed that CEO Musk is now one step closer to becoming the world’s first trillionaire.
On December 15 (local time), U.S. business magazine Forbes reported that CEO Musk’s wealth is now estimated at 677 billion dollars (approximately 995 trillion won), up 168 billion dollars from before, reflecting the recent internal share sale that valued his space company SpaceX at 800 billion dollars. According to Forbes, CEO Musk owns about 42% of SpaceX shares.
The valuation of SpaceX has doubled in just four months, rising from 400 billion dollars in August to 800 billion dollars. SpaceX is scheduled for an initial public offering (IPO) in 2026, and the market anticipates that its valuation could reach around 1.5 trillion dollars at the time of listing.
Forbes projected that even if SpaceX does not achieve its anticipated targets at the IPO, it is highly likely that CEO Musk’s net worth will exceed 1 trillion dollars once the company goes public. Last month, Tesla’s shareholders approved a plan at the general meeting to grant CEO Musk up to an additional 1 trillion dollars worth of shares if he achieves key management milestones. Should this compensation be realized, CEO Musk’s net worth would reach an unprecedented level.
In addition, the value of xAI, an artificial intelligence (AI) startup founded and operated by CEO Musk, is also on the rise. It is reported that xAI Holdings, which Musk established by merging xAI with X (formerly Twitter), the social networking service company he acquired, is now in talks to raise new funding at a valuation of 230 billion dollars-more than double its previous valuation. CEO Musk is estimated to hold a 53% stake in xAI Holdings.
According to Forbes, the world’s second-richest person is Google co-founder Larry Page, whose assets are estimated at 252 billion dollars. Forbes stated, “CEO Musk is likely to maintain his position as the world’s richest person and become the first ‘trillionaire.’”
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
