Since Election Night, Elon Musk, who performed an lively function in President-elect Donald Trump‘s efforts to safe a second time period in 2025, has solely gained larger affect inside Trump’s interior circle.
On November 12, Trump introduced that Musk, together with former Republican presidential candidate Vivek Ramaswamy, would lead the newly established Department of Government Efficiency (DOGE), which isn’t an official authorities company. Trump stated the duo “will pave the best way for my administration to dismantle authorities paperwork, reduce extreme laws, eradicate wasteful spending, and restructure federal companies.”
In addition to this function, Trump’s ongoing endorsement of Musk has helped elevate his enterprise ventures. SpaceX, for example, noticed its valuation surge to roughly $350 billion, in accordance with a Bloomberg report on Tuesday.
Learn extra about Musk’s internet value and different particulars beneath.
What Is Musk’s Net Worth?
Musk is the primary individual to surpass a internet value of $400 billion, with an estimated worth of $433 billion as of December 12, in accordance with Forbes’ Real-Time Billionaires List.
How Did Musk Make His Money?
A good portion of Musk’s internet value comes from his 12% stake in Tesla, which represents roughly 412 million shares. He has pledged 58% of his Tesla shares as collateral for private loans totaling $3.5 billion. In 2022, Musk offered $40 billion value of Tesla inventory to assist fund his $44 billion acquisition of Twitter, which he later rebranded as X. Although Musk nonetheless owns roughly 79% of the corporate at that unique valuation, Twitter’s value has dropped by almost 70% as of August 2024.
Musk can also be the co-founder of SpaceX and The Boring Company and serves as chairman of SolarCity. He owns 43% of SpaceX, which was valued at $180 billion in its most up-to-date funding spherical and is now estimated at $350 billion. The Boring Company, in distinction, was valued at round $5 billion in its newest spherical.
Additionally, Musk owns about 54% of xAI, the bogus intelligence firm he based in 2023. The startup was valued at $50 billion as of final month, in accordance with the Wall Street Journal.
Who Are the Richest People within the World?
As of as we speak, the richest individuals on the planet in accordance with Forbes’ Real-Time Billionaires List are:
- Elon Musk – $433 billion
- Jeff Bezos – $243.7 billion
- Larry Ellison – $223.4 billion
- Mark Zuckerberg – $218.6 billion