$600 bn and counting: Elon Musk rewrites the rules of global wealth

Billionaire and tech giant Elon Musk, who is the world’s richest man according to the data, has not touched a milestone mark by becoming the only individual to have a net worth of $600 billion.  

According to the data collected by Forbes, the increase is the result of SpaceX going public at a valuation of $800 billion with the involvement of Starlink.  

Musk already crossed the $500 billion in October this year and is ready to achieve the next milestone. It is said that SpaceX alone would add around $168 billion to Musk’s net worth.  

SpaceX CEO drives across Tesla, SpaceX and his other AI ventures which he labels are dangerous for the human race, has crossed the $600 billion mark.  

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Musk has already crossed the GDP of various other countries and this achievement cements his position as the wealthiest person in the modern world.  

SpaceX holdings

  A recent tender offer valued SpaceX at $800 billion, adding nearly $168 billion to Musk’s wealth in a single day.

Musk owns about 42 per cent stake in SpaceX, which is preparing for IPO next year which will mark as the richest invention increasing its valuation.  

He owns 12 per cent in Tesla worth approximately $197 billion, excluding stock options.  

Apart from these, Musk also owns some of his shares in AI ventures.  

Money will become obsolete

Forbes reported that Elon Musk feels that money may soon become obsolete.  

Speaking at the People by WTF podcast, Musk said, “I think money disappears as a concept, honestly… If AI and robotics are big enough to satisfy all human needs, then money is no longer necessary. Its relevance declines dramatically.”  

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Musk believes tech will replace human efforts and machines will carry all the other activities. He thinks in the future robots will build homes, grow food, manufacture goods and also provide healthcare and education at near-zero cost.  

AI and robotics can make everyone wealthy; reveals Elon Musk Musk. “There is essentially one way to make everyone wealthy, and that is through AI and robotics,” he stated.