The world’s richest person just hit another major milestone thanks to the soaring valuation of his rocket maker SpaceX.

Elon Musk just took another giant leap toward becoming the world’s first trillionaire. Earlier this month, Musk’s rocket maker SpaceX launched a tender offer valuing the firm at $800 billion, up from $400 billion in August, two of the company’s investors tell Forbes. That boosts the fortune of Musk, who owns an estimated 42% of SpaceX, by $168 billion to an estimated $677 billion as of 12 p.m. Eastern Monday. Musk is now the first person ever worth $600 billion or more. No one else has ever been worth $500 billion.

The tender offer comes as SpaceX is targeting an IPO in 2026 that could value the company at around $1.5 trillion, one of the company’s investors confirmed to Forbes. The tender offer and SpaceX’s IPO plans were........

© Forbes