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Elon Musk, CEO of Tesla and SpaceX, has achieved a staggering net worth of $500 billion, according to the Bloomberg Billionaires Index. This makes Musk wealthier than Amazon founder Jeff Bezos and Meta CEO Mark Zuckerberg combined.
Bezos’s net worth currently stands at $251 billion, while Zuckerberg holds $221 billion. Despite being the second and third richest individuals globally, their combined wealth of $472 billion still falls $2 billion short of Musk’s fortune.
Richest Person In World
The Bloomberg Billionaires Index, which monitors the daily net worth of the world’s richest individuals based on share prices and other assets, confirmed Musk’s latest milestone. At 53, Musk has consistently held a top spot among the world’s wealthiest, but this recent achievement underscores the sharp rise in Tesla’s stock value and growth in his other ventures. Musk is now the first individual in history to surpass a net worth of $400 billion.
Growing Influence of Elon Musk
This monumental valuation highlights Musk’s growing influence in the tech, automotive, and social media sectors. As the owner of X (formerly Twitter), Musk continues to maintain his dominance across industries and is set to play a significant role in President-elect Donald Trump’s incoming administration.
Musk’s political engagement has been notable throughout 2024. The billionaire spent more than $277 million in support of the Republican nominee and other GOP candidates. This financial backing has reportedly netted Musk over $170 million in returns following the election, as per analysis by The Washington Post.
Elon Musk and Tesla Stock Surge
Tesla’s stock price has been a major contributor to Musk’s growing fortune. The day after November’s presidential election, Tesla shares closed at a record high of $424.77 per share. This historic stock surge boosted the company’s valuation to $1.36 trillion and added approximately $52 billion to Musk’s net worth.
Musk owns a 12% stake in Tesla, which has seen steady share value growth over the past year. Increased global demand for electric vehicles and advancements in artificial intelligence have been key drivers of Tesla’s success, areas where Musk remains a key figure.
SpaceX and xAI
In addition to Tesla, Musk’s leadership at SpaceX has also significantly contributed to his wealth. The private space exploration company has continued to thrive through successful satellite launches and government contracts. Bloomberg estimates SpaceX’s valuation at $210 billion as of mid-2024.
Musk’s influence in artificial intelligence further solidified with the founding of xAI in 2023. The AI startup, where Musk holds a 54% stake, has already made a mark in the sector. The Wall Street Journal reported xAI’s valuation at $50 billion as of November 2024.
Also Read: Elon Musk’s Net Worth Reaches Historic $500 Billion
