Billionaire folds rocket maker into a lossmaking AI start-up, betting scale and control can beat rivals to blockbuster IPO

Elon Musk just became the first person ever worth $800 billion or more after his rocket maker SpaceX acquired his artificial intelligence and social media company xAI. Forbes estimates that the deal, which values the combined company at $1.25 trillion, boosted Musk’s fortune by $84 billion, to a record $852 billion.

Elon Musk has become the first person to surpass $800 billion in net worth following the merger of SpaceX and xAI, valued at $1.25 trillion. This deal boosted his fortune to $852 billion, with his SpaceX stake now his most valuable asset.

PayPal has appointed former board chair Enrique Lores as chief executive, replacing Alex Chriss who had been chief executive since 2023. Lores is stepping down as CEO of HP, which is racing to search for his replacement, Semafor reports. HP board member Bruce Broussard will be interim CEO.

Elon Musk has suggested that SpaceX's next Starship rocket launch could occur in early March 2026. Here's what we know about Flight 12.

SpaceX, a leader in rocket launches and satellite internet, will now also house Musk’s ventures in artificial intelligence and social media.

SpaceX plans to launch the 12th test flight of its Starship megarocket in six weeks, according to Elon Musk. It will be the first mission of the bigger, more powerful Starship "V3."

Elon Musk reportedly wants to time SpaceX’s likely record-setting initial public offering to coincide with a rare planetary alignment and his own birthday in June. The world’s richest man has floated going public in mid-June – when Jupiter and Venus will be in “conjunction” for the first time in three years,