By Faith Barbara N Ruhinda at at 1417 EAT on Monday 11 May 2026

Elon Musk has become the first person in history to be valued at more than $800 billion, following a major corporate restructuring involving his companies.

On February 3, Musk’s rocket company SpaceX acquired his artificial intelligence and social media firm xAI in a deal that valued the combined business at $1.25 trillion. According to Forbes, Musk is estimated to hold a 40% stake in the merged entity, worth approximately $500 billion. SpaceX, now his most valuable asset and where he serves as chief executive, is also reportedly preparing for a potential initial public offering later this year.

On November 6, shareholders at Tesla approved a record-breaking compensation package that could grant Musk up to $1 trillion in additional stock awards—before taxes and unlocking costs—if the company achieves a series of ambitious performance targets, including an eightfold increase in market value over the next decade. Musk currently owns about 12% of Tesla shares, excluding options, and has previously used part of his holdings as collateral for loans.

Separately, on December 19, the Delaware Supreme Court reinstated Musk’s Tesla stock options, overturning a 2024 lower court ruling that had voided the award.

Elon Musk, originally from South Africa, moved to Canada before the age of 18, where he took on a range of jobs before enrolling at Queen’s University in Ontario. He later transferred to the University of Pennsylvania in the United States, earning a bachelor’s degree in economics.

In 2000, Musk merged X.com, an online bank he co-founded, with a rival venture led by investor Peter Thiel to form PayPal, which was acquired by eBay in 2002 for $1.4 billion.

Two years later, in 2002, he founded SpaceX in El Segundo, California. In 2004, Musk joined Tesla as an investor and chairman—one year after its founding—and was later officially credited as a co-founder. He became Tesla’s chief executive in 2008, and the company went public in 2010.

Musk also co-founded OpenAI in 2015 alongside Sam Altman, originally as a non-profit. He left the organization’s board three years later amid disagreements over its direction. More recently, Musk and OpenAI have been engaged in legal disputes over claims related to his early contributions to the organisation.

Musk first became the world’s richest person in September 2021 and held the position for much of 2022 before briefly losing it in December of that year. He regained the top spot in June 2023 and maintained it for the remainder of the year, before dropping to second place in January 2024. He returned to the top position later that year and has remained there since.

His net worth has risen sharply in recent years, crossing successive milestones: $500 billion in October, $600 billion in December, and $700 billion shortly after, driven in part by legal and equity developments involving Tesla stock options. In February, his wealth surpassed $800 billion following a major valuation shift involving SpaceX and xAI.

Invest or Donate towards HICGI New Agency Global Media Establishment – Watch video here

Email: editorial@hicginewsagency.com TalkBusiness@hicginewsagency.com WhatsApp +256713137566

Follow us on all social media, type “HICGI News Agency” .