Elon Musk has officially become the first person ever to reach a net worth of $600 billion, according to Forbes. This comes after reports that his space company, SpaceX (PC:SPXEX), hit an $800 billion valuation during a recent insider share sale. Notably, Musk owns about 42% of SpaceX, and if the company moves forward with its IPO next year, his stake could increase to more than $625 billion, assuming a $1.5 trillion public valuation.
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Musk’s net worth has also benefited from his 12% stake in Tesla (TSLA), which has increased by 13% in value this year despite slower sales. Tesla shares also rose nearly 4% today after Musk announced that the EV company is testing robotaxis without a front-seat safety monitor. Meanwhile, Musk’s artificial intelligence startup, xAI (PC:XAIIQ), is in advanced talks to raise $15 billion in new funding, which would value the company at $230 billion, according to media reports. If the deal goes through, it could give Musk another major wealth boost.
Interestingly, it’s worth noting that Musk was worth $4.8 billion when he was first added to the Bloomberg Billionaires Index in May 2013 and first crossed the $100 billion milestone in 2020. In addition, Tesla shareholders approved a massive $1 trillion pay package for Musk in November, the largest in corporate history. As a result, Musk seems to be on track to become the world’s first trillionaire.
What Is the Prediction for TSLA Stock?
Turning to Wall Street, analysts have a Hold consensus rating on TSLA stock based on 12 Buys, 12 Holds, and nine Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average TSLA price target of $386.42 per share implies 18.7% downside risk.
