Elon Musk, CEO of Tesla and SpaceX, has officially become the richest person in history, with a net worth of $348 billion, according to Forbes. His ascent is largely credited to a surge in Tesla’s stock, fueled by Wall Street’s optimism over the US President-elect Donald Trump, a close ally of Musk.
According to Bloomberg Billionaire Index, Musk is followed by Jeff Bezos with $219 billion worth. Musk’s net worth rose by $7 billion, reaching $348 billion as of November 25, 2024, with the gains primarily driven by Tesla, SpaceX, and xAI stocks.
🇺🇸Bloomberg: Elon Musk reclaims title as richest man in history
Musk’s fortune now stands at $347.8 billion, surpassing his previous 2021 record of $340.4 billion.
Amazon founder Jeff Bezos is second with $219 billion, followed by Oracle CEO Larry Ellison at $206 billion. pic.twitter.com/HKoS2LKllI
— Patel Edwin (@thepatelEdwin) November 24, 2024
Notably, majority of Elon Musk’s fortune comes from his 13% stake in Tesla, valued at $145 billion, and his 42% stake in SpaceX, worth $210 billion. Additionally, Musk holds stakes in Neuralink, The Boring Company, and X (formerly known as Twitter).
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Tesla’s stock has surged 40% since the U.S. presidential election, including a 3.8% rise on Friday, bringing shares to $352.56—their highest in over three years. This boost added $7 billion to Elon Musk’s wealth, surpassing his previous record of $320.3 billion set in November 2021 during Tesla’s pandemic-driven boom.
Elon Musk’s support for Donald Trump has boosted investor confidence. This year, Musk endorsed Trump and donated over $100 million to his campaign. He has also been appointed chair of the new Department of Government Efficiency (DOGE), working with biotech entrepreneur Vivek Ramaswamy. Analysts expect the administration’s deregulation plans to benefit Tesla’s Full Self-Driving program, which has previously faced regulatory challenges.
🌍 World’s Richest Man Alert! 🌟
Elon Musk adds $7B to his fortune, now valued at $334.3B.
Despite economic shifts, his ventures in tech & space innovation keep skyrocketing his net worth! 💡🚀#ElonMusk #Innovation #Billionaire pic.twitter.com/TBKfeZaitf
— RR FinTech Updates (@rr_fintech) November 23, 2024
As per the Forbes report, Musk stands to earn an additional $18 billion from SpaceX, as the company plans to launch a tender offer round in December 2024.
As mentioned earlier, Musk’s net worth surpasses that of Jeff Bezos, the second-richest person with $219 billion worth of wealth.
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