Musk’s milestone came after SpaceX’s latest valuation reached $350 billion, bolstered by a $1.25 billion insider share purchase by investors, according to a Bloomberg report. The transaction added $50 billion to Musk’s net worth in a single move, making SpaceX the world’s most valuable private startup. Musk currently owns 42% of the company, underscoring its role in his financial portfolio.
Tesla, the world’s most valuable car company, remains another cornerstone of Musk’s wealth. According to Forbes, Musk owns 12% of the electric vehicle giant, which has driven the adoption of electrification and renewable energy globally. However, Musk faced a legal setback this week when a Delaware judge struck down his 2018 Tesla compensation package, initially valued at over $50 billion. The judge deemed the package “unfathomable” and criticised its alignment with Musk’s vision of advancing humanity.
Beyond Tesla and SpaceX, Musk’s ventures span numerous high-tech sectors. Neuralink, his brain-computer interface startup, was valued at $5 billion as of June 2024, according to Reuters. Neuralink marked a significant milestone in January 2024, when it implanted its first chip in a human patient.
Musk also owns 54% of xAI, an artificial intelligence company founded in 2023, which The Wall Street Journal reported had reached a $50 billion valuation as of last month. Meanwhile, The Boring Company, focused on transportation tunnels, achieved a $5.68 billion valuation in April 2022 following a Series C funding round.
Musk’s ownership of the social media platform X, formerly known as Twitter, has faced challenges. Acquired for $44 billion in 2022, X’s valuation has plummeted by nearly 72%, with Fidelity estimating the company’s worth at $5.53 million as of October 2024. The platform’s declining value contrasts starkly with Musk’s other ventures.
