By Admin 
Elon Musk: Tesla owner Elon Musk has created history. There has been a tremendous increase in Musk’s wealth after aerospace company SpaceX bought his artificial intelligence and social media firm xAI. His net worth has now crossed 800 billion dollars (72,37,400 crores). With this he has become the richest person in the world.
According to Forbes, due to the merger of both the companies, their combined value has now become 1.25 trillion dollars. Due to this, Musk’s wealth has also taken a huge jump of about 84 billion dollars. Currently his total net worth is estimated at 852 billion dollars (7,707,235 crores).
SpaceX-xAI deal increases wealth
Before the merger, Musk owned about 42 percent of SpaceX, which was valued at $ 800 billion after a tender offer in December. The value of his share was approximately $336 billion. He held about 49 percent stake in xAI, which was valued at $250 billion after a private fundraising round earlier this month, taking the value of his stake to about $122 billion.
After the merger, SpaceX was valued at $1 trillion and xAI was valued at $250 billion. According to Forbes estimates, Musk now has a 43 percent stake in this new company, which is worth about $ 542 billion.
Why did the thought of merger arise?
Space transportation and communication company SpaceX and AI startup XAI were merged to increase the computing capacity of AI in space. Under this, a large number of satellites will be sent to space, which will work as a data center there. This is the second time in less than a year that two of Musk’s companies have been merged. In March last year, Musk merged his AI startup xAI with X.
Also read:
Effect of trade deal, India’s economy will run at a gallop; Goldman made this estimate regarding GDP