Elon Musk Hits $800B Net Worth, Dangote's New Ranking Revealed

Elon Musk has made history by becoming the first individual to achieve a net worth exceeding $800 billion. This milestone was reached after a groundbreaking deal where SpaceX acquired XAI, an artificial intelligence and social media company, for a combined firm value of $1.25 trillion.

Musk's net worth surged to an estimated $852 billion post the acquisition, with his ownership in SpaceX at 42%, valued at $336 billion, and XAI at 49%, valued at $122 billion. Additionally, Musk's Tesla holdings, valued at $178 billion, along with stock options, further contribute to his wealth.

In a separate development, Aliko Dangote, Nigeria's business magnate, has been ranked 85th globally with a net worth of $26.3 billion. This new ranking follows Dangote's sale of a controlling stake in Geregu Power Plc for N1.088 trillion to a financial consortium led by Zenith Bank PLC and Amperion Power Distribution Company Ltd, with Ma Energy Ltd acquiring a 95% equity interest in Amperion.