American entrepreneur Elon Musk has become the first person in history whose fortune has exceeded the $800 billion mark after SpaceX acquired his artificial intelligence and digital technology company xAI. Forbes writes about this, reports UNN.
Details
According to the publication's estimates, the deal valued the combined company at $1.25 trillion and increased Musk's personal fortune by $84 billion – to a record $852 billion.
xAI is Musk's company, created to develop artificial intelligence systems and big data analysis technologies. It is engaged in creating its own AI models, which are used in digital services, including the social network X, as well as in research and commercial projects related to automation, information retrieval, and machine learning.
Before the merger, Musk owned approximately 42% of SpaceX, which was valued at $800 billion at the end of last year, and about 49% of xAI, which reached a value of $250 billion this month. After the merger, Forbes estimates Musk's stake in the new company at 43%, which is equivalent to approximately $542 billion.
Thus, SpaceX became his most valuable asset. In addition, Musk owns about 12% of Tesla shares worth $178 billion, as well as options for another $124 billion.
It is separately noted that he could potentially receive up to $1 trillion in additional Tesla shares if the company achieves key financial indicators in the future.
Forbes also reminds that this is the second large-scale merger of Musk's businesses in less than a year. In March last year, he merged xAI with the social network X, formerly known as Twitter.
Over the past four months, Musk has consistently surpassed several record financial milestones – $500, $600, $700, and $800 billion in wealth.
He currently surpasses the world's second richest person, Larry Page, by more than $570 billion.
Recall
French police searched X's offices in Paris, and prosecutors summoned Elon Musk for questioning in April. The investigation concerns algorithm abuse and fraudulent data extraction, as well as complaints about the Grok chatbot.