Elon Musk made flying even worse so Palantir could profit

In a matter of 24 hours, billionaire entrepreneur Elon Musk saw his net worth soar by an astounding $30.7 billion, catapulting him to a staggering fortune of $894.9 billion as of August 18, 2026. According to the real-time Forbes Billionaires ranking, Musk recorded a 3.55% increase in wealth during this period, firmly establishing him as the world's richest individual at the time.

As the CEO of Tesla and a co-founder of several groundbreaking companies, including SpaceX, xAI, Neuralink, and The Boring Company, Musk's wealth is primarily tied to his stakes in these ventures. SpaceX and Tesla alone form the bulk of his fortune, with the latter owning approximately 38% of SpaceX, encompassing both shares and options.

In addition, Musk holds nearly 11% of Tesla, excluding unvested restricted stock from his 2018 CEO performance award, which could potentially increase his share to around 8% upon vesting, before accounting for taxes.

The sharp rise in Musk's net worth marks a significant shift from his wealth levels following the SpaceX initial public offering (IPO) in June 2026. On that day, SpaceX priced its IPO at $135 per share, granting the company a valuation of approximately $1.8 trillion. This IPO instantly injected about $188 billion into Musk's wealth overnight.

Despite this volatility, SpaceX remains the primary driver of his wealth, with Tesla, xAI, Neuralink, and The Boring Company contributing to his diverse portfolio spanning electric vehicles, artificial intelligence, space exploration, tunneling technology, and brain-computer interfaces.

Recently, Musk announced that Tesla plans to complete the design phase of its next-generation AI6 chip by December 2026, a crucial milestone in the company's pursuit of advancing artificial intelligence and autonomous driving capabilities. The chip's finalization, known as "tape-out," signifies the end of the design phase and its transition to manufacturing.