Elon Musk’s wealth has soared past $600 billion—he’s now worth double the next richest person alive, Google’s cofounder Larry Page

Core Insights - Elon Musk's net worth has surged to $638 billion, making him the first individual estimated to exceed $600 billion according to Bloomberg's wealth index [1][2] - SpaceX, the aerospace company founded by Musk, achieved an $800 billion market cap, contributing significantly to his wealth as he holds a 42% stake valued at $317 billion [2] - Musk's wealth has grown exponentially, with a notable increase of around $100 billion annually over the past five years, largely driven by the success of his businesses [5] Company and Industry Highlights - SpaceX has become the most valuable private company globally, marking a significant milestone in the aerospace industry [2] - Musk's wealth trajectory has outpaced other billionaires, with Larry Page, the second richest, valued at $265 billion, which is less than half of Musk's fortune [3] - Tesla's $1 trillion pay package, approved in November, will further enhance Musk's financial standing over the next decade [4] Historical Context - Musk's wealth journey began in 2013 with a net worth of $4.8 billion, escalating to at least $100 billion by 2020 due to Tesla's soaring valuation [5] - His early ventures included co-founding Zip2, which sold for $307 million, and X.com, which later became part of PayPal, acquired by eBay for $1.5 billion in 2002 [7]