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Elon Musk’s net worth has risen by $30.7 billion in the past 24 hours, taking his fortune to $894.9 billion as of August 18, 2026.
According to the Forbes Real-Time Billionaires ranking, Musk recorded a 3.55% increase in his wealth over the period, maintaining his position as the world’s richest person at the time of publication.
Musk is the CEO of Tesla and the founder or co-founder of several companies, including SpaceX, xAI, Neuralink and The Boring Company. His fortune is largely tied to his stakes in these businesses, with SpaceX and Tesla accounting for the largest portions of his wealth.
What the data is saying
Checks by Nairametrics put the billionaire’s net worth at approximately $894.9 billion following a $30.7 billion jump within 24 hours, based on the latest Forbes Real-Time Billionaires figures available at the time of publication.
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Forbes data shows that Musk owns approximately 38% of SpaceX, including shares and options.
He also holds nearly 11% of Tesla, excluding unvested restricted stock from his 2018 CEO performance award, which could provide him with an additional stake of about 8% upon vesting, before taxes.
The latest estimate represents a sharp movement from the wealth levels Musk recorded after SpaceX went public in June.
Get up to speed
On June 12, 2026, SpaceX priced its long-awaited initial public offering at $135 per share, giving the company a valuation of approximately $1.8 trillion. The IPO immediately had a significant impact on Musk’s wealth, with Forbes estimating that the pricing added about $188 billion to his fortune in a single day.
- Musk subsequently became the world’s first trillionaire as SpaceX began trading publicly. His fortune climbed to approximately $1.4 trillion by June 16 as SpaceX’s market value approached $3 trillion.
- However, the rally was followed by a steep reversal. On June 23, Nairametrics reported that Musk had lost approximately $350 billion in one week, with his fortune falling to around $1.1 trillion. The decline followed a selloff in SpaceX shares, which fell 16% on June 22 and had lost more than 30% from their June 16 peak.
- The decline erased almost $1 trillion from SpaceX’s market capitalisation across three consecutive trading sessions, according to Forbes estimates. The company’s valuation subsequently fell to around $2 trillion.
Despite the volatility, SpaceX remains the largest driver of Musk’s wealth. The billionaire’s other major holdings include Tesla, xAI, Neuralink and The Boring Company, giving him exposure to electric vehicles, artificial intelligence, space exploration, tunnelling technology and brain-computer interfaces.
What you should know
Tesla CEO Elon Musk said earlier that the electric vehicle maker could complete the design phase of its next-generation AI6 chip by December 2026, marking a key step in the company’s push to develop its artificial intelligence and autonomous driving capabilities.
Musk disclosed the timeline in a post on X, where he said Tesla could “tape out” the AI6 chip by December, provided the company can accelerate development with the help of AI. In semiconductor development, tape-out refers to the point at which a chip’s design is finalised and sent for manufacturing.
- The AI6 chip is expected to support Tesla’s future artificial intelligence applications, including autonomous vehicles and humanoid robots. The development is part of Tesla’s broader effort to build its own AI computing capabilities and reduce its dependence on third-party chip suppliers.
- Samsung Electronics is expected to manufacture the AI6 chips under a reported $16.5 billion agreement with Tesla.
