Elon Musk Shatters Wealth Records, Nears $800bn as Four Nigerians Make Forbes Billionaires List
- Elon Musk's net worth reaches $780 billion, nearing the $800 billion milestone
- xAI's valuation skyrockets to $250 billion after a successful funding round, boosting Musk's wealth significantly
- Nigeria's billionaires emerge as key players in Africa's growing wealth landscape, led by Aliko Dangote
Elon Musk has once again pushed the boundaries of global wealth, edging closer to becoming the world’s first $800 billion individual.
The Tesla and SpaceX chief recently added an eye-watering $62 billion to his fortune after private investors more than doubled the valuation of his artificial intelligence and social media venture, xAI Holdings, to $250 billion.
Source: Twitter
According to Forbes Real-Time Billionaire Index, Musk’s net worth now stands at a record $780 billion, cementing his position as the richest person in history by a wide margin.
The surge follows xAI’s successful $20 billion funding round, completed earlier this month, which dramatically boosted investor confidence in Musk’s expanding AI ambitions.
xAI deal delivers massive windfall
The new valuation marks a sharp jump from the $113 billion Musk cited last March, when he merged xAI with his social media platform X, formerly known as Twitter.
Forbes estimates that Musk’s 49% stake in xAI Holdings is now worth $122 billion, up $62 billion almost overnight.
The funding round also rewarded several high-profile investors. Saudi billionaire Prince Alwaleed Bin Talal Alsaud, an early Twitter backer, owns an estimated 1.6% stake in xAI Holdings worth about $4 billion, lifting his net worth to $19.4 billion.
Twitter cofounder Jack Dorsey and Oracle cofounder Larry Ellison each hold roughly 0.8% stakes valued at $2.1 billion, pushing their fortunes to $6 billion and $241 billion, respectively.
AI spending spree and controversies
xAI’s rapid rise comes amid aggressive spending in the global artificial intelligence race. Internal documents reviewed by Bloomberg show the company burned through $7.8 billion in cash during the first nine months of 2024 alone.
The company has also faced scrutiny. Its Grok chatbot has drawn criticism for generating fake and explicit images of real women, an issue that recently surfaced in a lawsuit involving Ashley St. Clair, the mother of one of Musk’s children. Despite the controversy, investor appetite for Musk-led ventures appears undiminished.
A year of unmatched milestones
Musk’s march toward $800 billion caps a remarkable year of wealth milestones.
In October, he became the first person worth $500 billion after Tesla’s stock nearly doubled following his decision to scale back his role in President Trump’s Department of Government Efficiency.
By mid-December, Musk crossed $600 billion after SpaceX was privately valued at $800 billion, doubling its August figure.
Just four days later, his fortune hit $700 billion after the Delaware Supreme Court overturned a ruling that had voided Tesla stock options now worth $126 billion.
Today, Musk’s most valuable asset is his 42% stake in SpaceX, estimated at $336 billion. Tesla remains its second-largest holding, with a combined value of $307 billion from common shares and stock options.
Not included in that figure is Tesla’s ambitious performance-linked pay package that could eventually deliver up to $1 trillion in additional stock if long-term targets are met.
A gulf between No. 1 and the best
Musk is now $510 billion richer than the world’s second-wealthiest person, Google cofounder Larry Page, whose fortune stands near $270 billion.
Only Larry Ellison has ever briefly crossed the $400 billion mark, but his net worth has since fallen by $159 billion, dropping him to fifth place.
To put Musk’s dominance in perspective, his xAI stake alone is worth more than the entire fortune of Michael Bloomberg, the world’s 16th richest person.
Four Nigerians shine on Africa’s billionaires list
While Musk dominates the global stage, Nigeria is making a strong showing closer to home.
Four Nigerian tycoons feature among Africa’s richest on the Forbes Billionaires List, led by Aliko Dangote with an estimated net worth of $23.9 billion.
Mike Adenuga follows with $6.8 billion, Abdul Samad Rabiu with $5.1 billion, and Femi Otedola with $1.5 billion.
Source: UGC
Recent reports suggest Rabiu is closing in on the $10 billion mark on the Bloomberg Billionaires Index, potentially reshaping Nigeria’s billionaire rankings in the months ahead.
Together, their presence underscores Africa’s growing influence in the global wealth conversation, even as Musk continues to rewrite the record books.
Meet the 10 richest men in 2026
Legit.ng earlier reported that the combined net worth of the world’s top 10 richest men has soared past $2.4 trillion in 2026, led by Elon Musk, whose fortune has reached an unprecedented $714.2 billion.
Data from Forbes billionaire index showed that Musk now holds nearly $500 billion more than Larry Page, the world’s second-richest individual, as his wealth continues to surge.
This list of the world’s richest men is based on individual net worth as of January 2026. The rankings include billionaires whose fortunes are publicly verifiable.
Source: Legit.ng
