NEW YORK: Elon Musk is the wealthiest individual ever recorded, worth an estimated $839 billion, Forbes said on Tuesday, as a record 3,428 billionaires worldwide saw their combined fortunes surge to an all-time high of $20.1 trillion.

Musk topped the Forbes World’s Billionaires list for the second consecutive year after his fortune swelled by roughly $500 billion over the past twelve months, driven by rising valuations at Tesla and SpaceX, which is targeting a public offering in 2026.

He is the first person ever to surpass the $800 billion mark and is on course to become the world’s first trillionaire.

Elon Musk cofounded seven companies, including electric car maker Tesla, rocket producer SpaceX and artificial intelligence startup xAI.

He owns about 12 per cent of Tesla, which he first backed in 2004, and which he’s led as CEO since 2008.

He also owns options to acquire another 8pc. Musk led a group that bought Twitter for $44 billion in 2022.

He merged it with xAI in 2025 in deal that valued the combined company at $113 billion (net of debt). SpaceX, founded in 2002, acquired xAI in February 2026 in a deal that valued the combined company at $1.25 trillion.

Musk owns an estimated 43pc stake. Musk also founded tunneling startup The Boring Company and brain implant outfit Neuralink.

The two startups have raised around $2 billion from private investors combined.

Published in Dawn, March 11th, 2026