Elon Musk's Amazing Week: From Billionaire Status To SpaceX Success

Elon Musk is having a VERY good week. Yesterday, Elon’s net worth topped $85 billion as Tesla hit an all-time high. With that jump, Elon ranked as the fourth-richest person on the planet for the very first time, topping French billionaire Bernard Arnault. But that’s not all! Yesterday it was also confirmed that Elon’s OTHER company SpaceX had successfully raised a new round of money at a new all-time high valuation. The combination of these two events has made Elon Musk A TON of money!

When evaluating Elon Musk's net worth, it’s important to remember that it’s comprised of his stakes in both Tesla – which is publicly traded – AND SpaceX – which is still a privately-held company. So for example, when Elon’s net worth topped $70 billion for the first time on July 10, 2020, roughly $15 billion was attributable to the privately-held SpaceX (based on its private valuation) and the remaining $55 billion was from Tesla (based on the price of its publicly traded shares).

Elon owns about 20% of Tesla's outstanding shares. Prior to SpaceX's most recent funding round, he owned 54% of the privately-held company, which had a valuation of $36 billion after its fundraising round in February 2020. Recently, SpaceX confirmed through an SEC filing that it raised $1.9 billion in fresh capital from a group of investors, pushing its valuation to $46 billion. The fundraising round was over-subscribed, meaning SpaceX had to turn investors away, even after increasing the amount of money it wanted to raise from $1 billion to $1.9 billion.

After the most recent fundraising round, Elon’s 54% stake in SpaceX has been reduced to 48%. The company’s $46 billion valuation includes the $1.9 billion in cash raised, which is meant for operations, not for paying insiders like Elon. At a $46 billion private valuation, Elon’s SpaceX stake is worth $22 billion, while at a $350 billion market cap, his Tesla stake is worth $70 billion. After factoring in personal debts and obligations, Elon’s net worth stands at an impressive $90.5 billion. Congrats Elon!