Elon Musk's Net Worth Rises to Highest Level Ever, 2 Nigerian Climb Billionaire List
- The world’s richest man, Elon Musk, has seen his net worth soar to a new all-time high following a sharp increase in the valuation of SpaceX
- He is now the first person in history to be worth more than $600 billion, according to the Bloomberg Billionaires Index (BBI)
- In Nigeria, Aliko Dangote and Abdulsamad Rabiu have also recorded gains in their fortunes, improving their positions on the global billionaire rankings
Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and global market trends.
Elon Musk, the chief executive of Tesla, has emerged as the wealthiest individual ever recorded after his net worth climbed to $648 billion as at Wednesday, December 17 data from Bloomberg billionaire index shows.
Musk’s fortune jumped after SpaceX launched a tender offer earlier this month that valued the private rocket company at about $800 billion, up from roughly $400 billion in August 2026.
Source: Getty Images
The deal added an estimated $168 billion to Musk’s wealth, pushing his net worth as high as $677 billion at one point on Monday.
Musk becomes first person worth over $600bn
With the surge, Musk became the first individual in history to cross the $600 billion mark, a level no other billionaire has reached. Musk owns an estimated 42% stake in SpaceX, with about $336 billion tied to the company, making it his most valuable asset.
SpaceX works closely with the United States’ National Aeronautics and Space Administration (NASA) and is contracted to resupply the International Space Station, while also pursuing ambitious deep-space missions.
Beyond SpaceX, Musk is the CEO of Tesla, the world’s most valuable carmaker, and the owner of artificial intelligence and social media company xAI.
The sharp rise in his wealth has intensified speculation that he could become the world’s first trillionaire if valuations of his businesses continue to rise.
World’s 10 richest people (BBI)
- Elon Musk: $648 bn
- Larry Page: $264 bn
- Jeff Bezos: $246 bn
- Sergey Brin: $245 bn
- Larry Ellison: $243 bn
- Mark Zuckerberg: $232 bn
- Bernard Arnault: $205 bn
- Steve Ballmer: $166 bn
- Jensen Huang: $155 bn
- Warren Buffett: $150 bn
Source: Getty Images
Dangote, Rabiu climb billionaire rankings
It was not only Elon Musk that recorded a jump in fortune. Aliko Dangote, Africa’s richest man, is ranked 75th globally with an estimated net worth of $30 billion, up about $1.93 billion year to date.
Another Nigerian billionaire, Abdulsamad Rabiu, also climbed the rankings, placing 427th worldwide with a net worth of $8.45 billion after adding about $5.3 billion this year.
Both billionaires’ gains are largely tied to their industrial holdings, highlighting the growing value of Nigeria’s manufacturing and energy sectors.
Elon Musk Starlink in Nigeria
Earlier, Legit.ng reported that Starlink, the satellite internet service owned by Elon Musk, has become Nigeria’s second-largest internet service provider (ISP), surpassing FiberOne Broadband.
According to data from the Nigerian Communications Commission (NCC), Starlink’s user base has more than doubled despite its high pricing, growing from 23,897 subscribers in 2023 to 65,564 by the end of last year.
There is currently active service available all over the country.
Source: Legit.ng
