Elon Musk is on the verge of becoming the first person ever worth $800 billion. Musk’s xAI Holdings raised $20 billion from private investors at a $250 billion valuation earlier this month, Forbes just confirmed. That’s up from the $113 billion valuation Musk claimed when he merged his artificial intelligence startup xAI with his social media company X (formerly Twitter) last March. Forbes estimates that the deal boosted the value of Musk’s 49% stake in xAI Holdings by $62 billion to $122 billion. The world’s richest person by far, Musk is now worth a record $780 billion, according to Forbes’ Real-Time Billionaires List.

Other billionaire investors in xAI who got a big boost include Saudi Arabia’s Prince Alwaleed Bin Talal Alsaud, one of Twitter’s earliest investors, Twitter cofounder Jack Dorsey and Oracle cofounder Larry Ellison, who contributed $1 billion to Musk’s $44 billion takeover of Twitter in 2022. Forbes estimates that Prince Alwaleed owns a 1.6% stake in xAI Holdings worth $4 billion (excluding a larger stake held by his publicly traded Kingdom Holding Company), boosting his net worth to $19.4 billion. Dorsey and Ellison, meanwhile, each now own an estimated 0.8% stake worth $2.1 billion, increasing their fortunes to $6 billion and $241........

© Forbes