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© Rick Wilhoit; Johnson, Kansas, United States; 10 Jun 2025

YouTube video by Hawk's Podcasts / mdg650hawk

Elon Musk's journey to becoming the world's first trillionaire will likely be powered by rockets rather than cars, as SpaceX now accounts for nearly two-thirds of the Tesla CEO's wealth. Musk became the first person ever to top the $800 billion mark this week, with his net worth now around $845 billion, according to Forbes. He's worth more than the next three richest people – Google co-founders Larry Page and Sergey Brin and Meta CEO Mark Zuckerberg – combined. The tech magnate's unprecedented wealth surged after his aerospace and defense company, SpaceX, acquired his artificial intelligence and social media company, xAI, this week in a deal that valued the merged entity at $1.25 trillion, according to financial documents reviewed by CNBC. With Musk's ownership estimated at around 43% in the combined company, his stake would be valued at over $530 billion, marking a rapid shift in his fortunes. Musk's priorities are also likely shifting his focus more to SpaceX than Tesla, a reality that the EV company acknowledged in its latest proxy filing, where it noted that "a majority of Mr. Musk's wealth is now derived from other business ventures." Last year, Musk confirmed he wants to take SpaceX public...

Elon Musk’s move last week to combine SpaceX and xAI has created one of the world’s biggest and most valuable private companies, which analysts say offers a mix of potential growth and financial risk as it heads toward public markets. The two companies are very different. SpaceX was founded in 2002 and has established itself as the premier nongovernmental space exploration operation. Musk’s xAI venture was started less than three years ago to focus on AI and more recently social media. In another Musk company combo, xAI acquired the social media platform X last March. Analysts told NBC News that both entities have something to gain from coming together: SpaceX gets an edge ahead of its IPO, and xAI can expand its AI infrastructure while getting a much needed “injection of cash,” as one expert put it. In his Monday announcement, Musk said the merger will create a company with “AI, rockets, space-based internet, direct-to-mobile device communications and the world’s foremost real-time information and free speech platform.” Musk added that he wants to create AI data centers in space by “launching a constellation of a million satellites that operate as orbital data centers.” And Musk is pushing forward on this...

LAS VEGAS -- Elon Musk's "Vegas Loop," a network of underground tunnels to ferry passengers in Teslas, was under fresh scrutiny this week from Nevada lawmakers who raised concern about alleged workplace safety and environmental violations. Lawmakers spent hours grilling state safety officials over alleged violations by the Boring Company, the Musk-owned venture with tunneling projects also planned in Nashville and Dubai. Company officials declined to attend but provided written answers defending the project. "I think they are a company that acts like they are kind of above the law and want to play by their own set of rules," Democratic Assemblymember Howard Watts, whose district includes the tunnel project, told The Associated Press. First opened in 2021, the Vegas Loop offers free rides around the Las Vegas Convention Center and charges between $4 and $12 for rides to some hotels, casinos and the airport. The Teslas can be hailed by website or accessed at stations. The Boring Company is approved to build 68 miles (109.44 kilometers) of tunnels and 104 stations over the next few years in Vegas, a city that lacks fast and robust public transit. Vegas Mayor Shelley Berkley praised the project in January after the city...