While Tesla’s public stock surge was the trigger for Elon Musk’s $500 billion milestone, the immense and growing value of his private assets, particularly SpaceX, provides the formidable bedrock that fortifies his fortune. This combination of public and private power is a key element of his financial dominance.
SpaceX, his privately-held rocket company, is a juggernaut in its own right. With a reported target valuation of $400 billion, it is one of the most valuable private enterprises in the world. Musk’s 42% stake represents a colossal store of wealth that is insulated from the daily whims of the stock market.
This private wealth provides a crucial stabilizing effect. Even when Tesla’s stock faced volatility earlier in 2025, the underlying value of SpaceX remained a massive and stable component of his net worth. This diversification makes his overall financial position far more resilient.
Furthermore, the synergy between the companies is powerful. SpaceX’s engineering prowess and culture of innovation undoubtedly benefit Tesla, and vice versa. This cross-pollination of talent and ideas adds value to both, but the market can only price it into Tesla’s public shares.
When the value of his SpaceX stake is combined with his holdings in the $75 billion xAI and his 12% of the $1.5 trillion Tesla, the path to $500 billion becomes clear. It is a fortune built not just on a soaring public stock, but on a foundation of some of the most powerful private assets ever created.