Musk's Trillionaire Path: SpaceX, Not Tesla, Drives $800 Billion Fortune

• Elon Musk's net worth exceeds $800 billion, making him the first person to reach this milestone, now estimated at $845 billion.
• His journey to becoming a trillionaire is increasingly driven by SpaceX, especially after its acquisition of xAI, valuing the combined entity at $1.25 trillion.
• Musk's 43% stake in the merged SpaceX-xAI is worth over $530 billion, making SpaceX nearly two-thirds of his total wealth.
• Tesla's role in Musk's financial picture is shrinking, with the company acknowledging that a majority of his wealth now comes from other ventures.
• Despite regulatory and political challenges, and the potential for a SpaceX IPO in 2026, Musk still has incentives at Tesla due to a compensation package tied to aggressive market-cap targets.