CNBC’s Robert Frank reports on Elon Musk’s wealth surge. SpaceX is now the main rocket fuel for Musk's wealth.

Elon Musk’s wealth is now driven more by SpaceX than Tesla, following reports that SpaceX is planning a secondary share sale valuing the company at $800 billion. Musk’s 40% stake in SpaceX would be worth over $320 billion, surpassing the value of his Tesla holdings, which are currently about $182 billion.

If the SpaceX deal proceeds, Musk’s total net worth could exceed $620 billion, making him the first individual to reach the $600 billion milestone. The shift in Musk’s wealth sources has prompted concerns from Tesla’s board, who cited it as a reason for his controversial pay package, while the compensation remains under litigation.

How SpaceX is fueling Elon Musk’s wealth surge

Tesla's stock has long been the primary source of Elon Musk's vast wealth. Of course, he's the CEO of Tesla Now another name in his portfolio appears to be in our position to fill that role Robert Frank has the details for us morning David. Good to see you It is a private company in fact, and that is SpaceX Which is now the main rocket fuel for Elon Musk's personal wealth according to reports SpaceX is Planning that secondary share sale that would value the private company at 800 billion dollars So Elon's stake would be worth over three hundred and twenty billion dollars that assumes that 40% ownership in SpaceX Has not changed. Meanwhile, his direct shares in Tesla are worth about 182 billion so even if you add in the options from that disputed pay package back in 2018 His Tesla wealth is being far outpaced right now by SpaceX Now if the SpaceX deal goes through it would bring his total net worth to over six hundred and twenty billion dollars That would make him the first person ever to reach the six hundred billion dollar mark You might remember he was the first to reach four hundred billion last year and the first to reach 500 billion back in October the rising values of those private companies including XAI they were cited by the Tesla board as a Concern and reasons for awarding must that pay package that could potentially be worth one trillion dollars The Tesla proxy saying quote because of a majority of must wealth is now derived from other business ventures The compensation was needed to quote prevent him from prioritizing Those other companies Tesla shares down, of course 3% Yesterday. Yeah, I mean you mentioned the compensation package that's still under litigation in Delaware 2018 right that would raises if he gets if they win that which they very moment might yeah That would raise his net worth a lot as well 100 billion or something like that based on today's share price and so that would raise his Tesla value to slightly above SpaceX But it's it's notable that and this is a sort of microcosm of what's happening between private markets and public markets you see these private companies becoming as valuable or more than the largest public companies and Creating even more wealth because when they're still private the founders, of course are not as diluted as they are when right But what is he used to actually fund his lifestyle? Then is it back to our conversation with Dan Bowman? Is he just borrowing against his Tesla holdings and or remember remember back in? 2021 he sold 14 billion dollars worth of Tesla shares that still goes a long way that can carry you a few years a Few years, although it wasn't using some of that to pay for Twitter or no 44 billion. Oh, yeah. Well not for it. Not all of that I mean right 15 whatever his equity was so a portion of that. Yes, he has 10 billion a foundation So that's still a large chunk of change and he may be selling as part of the secondary sale But probably not a lot. The assumption is he still has about 40% of SpaceX

In Australia, millions of kids' social media profiles are going dark, as the country's new social media ban takes effect for anyone under 16. Jo Ling Kent reports.

Canberra

Australia's social media ban takes effect for kids under 16

President Trump, in recent months, has dismissed concerns about affordability, but this evening, in the battleground state of Pennsylvania, he is focusing on the crisis and touting his administration's efforts to lower the cost of living. Nancy Cordes has more.

Pennsylvania

Trump tries to flip the script on affordability

Dozens of protesters blocked a highway near Tel Aviv to demonstrate against moves by the Israeli government to force some ultra-Orthodox Jews into mandatory military service, something they are currently exempt from so they can study the Torah full time.

Tel Aviv-Yafo

Bill over ultra-Orthodox military conscription sparks protests in Israel

President Trump has told Politico that Nicolas Maduro's "days are numbered" in Venezuela. Political strategists Kevin Sheridan and Hyma Moore join with analysis.

Washington

Trump says Maduro’s “days are numbered”

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FBI releases photo of Olympian and alleged drug kingpin Ryan Wedding

Ukraine President Volodymyr Zelenskyy met Pope Leo XIV and Italian Premier Giorgia Meloni in Rome on Tuesday (December 9), meanwhile voicing his refusal to surrender territory to Moscow despite pressure from Washington for territorial concessions.

Rome

Ukraine Invasion

Zelenskyy seeks backing from Pope Leo XIV, Italian PM Meloni

A federal judge said Tuesday (December 9) that the Department of Justice can unseal the Ghislaine Maxwell sex trafficking case records. CBS News' Scott MacFarlane has more details.

Judge says DOJ can unseal Ghislaine Maxwell trafficking case records

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Manhattan

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Brussels

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London

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The International Criminal Court Tuesday handed down a sentence of 20 years to a Sudanese militia leader for war crimes and crimes against humanity committed during the country's civil war two decades ago.

ICC sentences Sudan militia chief for crimes against humanity

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Thailand and Cambodia are blaming one another for starting a deadly exchange of fire that killed at least five people and threatens to unravel a U.S.-backed ceasefire between the neighbouring southeast Asian countries.

Surin

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Paramount Skydance made a hostile takeover bid for Warner Bros. Discovery for $108 billion US just days after Netflix announced it made a $72-billion US deal with the legacy studio. It’s a move that even has U.S. President Donald Trump weighing in.

Hollywood

Paramount launches hostile takeover bid for Warner Bros.

President Trump announced Monday he will allow Nvidia to sell its advanced H200 computer chips to "approved customers" in China, but Mr. Trump said the deal does not include Nvidia's more advanced Blackwell system or its soon-to-be-released Rubin system.

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Ukraine's European allies put on a show of support for President Volodymyr Zelensky Monday as they expressed scepticism about parts of the U.S. proposal to end the war with Russia. The discussions came after President Donald Trump accused Zelensky of not reading his administration's proposal on a deal to end Russia's invasion following almost four years of war.

Downing Street

European allies back Zelensky after Trump criticism

A powerful 7.5-magnitude earthquake shook northeastern Japan late on Monday (December 8), prompting orders for about 90,000 residents to evacuate and tsunami warnings that hours later were downgraded to advisories.

Aomori

7.5-magnitude earthquake strikes Japan's northeast

Ukrainian President Volodymyr Zelenskiy said on Monday (December 8) that unity between Europe, Ukraine and the U.S. was important when negotiating an end to Russia's war in Ukraine. He made the remark during a visit to London.

Kyiv stresses European unity as allies 'skeptical' of U.S. peace plan

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Thailand has launched airstrikes on Cambodian military sites as renewed border violence threatens a U.S.-backed peace deal.

Bangkok

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South African authorities have withdrawn a 90-day visa exemption for Palestinians, saying the recent arrival of a charter flight with 153 people onboard was part of a campaign of “forced migration.”

Johannesburg

Middle East Conflict

South Africa withdraws 90-days visa exemption for Palestinians

Chinese and Japanese ties came under further strain after a Chinese fighter aircraft trained fire-control radar on Japanese military jets for the first time.

Okinawa

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Porto-Novo

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Hong Kong Island

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Kyiv

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Moscow

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Ponce

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Residents in the Indonesian region of Aceh Tamiang have been struggling to get aid while mourning the loss of their loved ones, as the death toll from floods and landslides that hit Sumatra island this month rose to more than 900 people.

Breakdown