Mr Elon Musk’s wealth has reached a new high, topping US$600 billion (S$773.5 billion) for the first time on the back of a new valuation for SpaceX. 

The world’s richest person is worth almost US$638 billion, according to the Bloomberg Billionaires Index, after SpaceX hit a valuation of about US$800 billion in an insider share sale – a deal that makes the Starbase, Texas-based rocket maker the world’s most valuable private company. Mr Musk is its founder and chief executive officer.