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. In November 2024, 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 way in which for my administration to dismantle authorities forms, reduce extreme rules, remove wasteful spending, and restructure federal companies.”
In addition to this function, Trump’s ongoing endorsement of Musk has helped elevate his enterprise ventures. SpaceX, as an example, noticed its valuation surge to roughly $350 billion, in keeping with a Bloomberg report.
Find out extra about Musk’s monetary standing and uncover who else is at the moment among the many richest individuals on this planet.
What Is Elon Musk’s Net Worth?
Musk has an estimated worth of $450 billion as of December 2024, in keeping with Forbes’ Real-Time Billionaires List.
How Did Musk Make His Money?
A good portion of Musk’s web 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 practically 70 % as of August 2024.
Musk can 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 factitious intelligence firm he based in 2023. The startup was valued at $50 billion as of final month, in keeping with the Wall Street Journal.
Who Are the Richest People within the World?
As of immediately, the richest individuals on this planet in keeping with Forbes’ Real-Time Billionaires List are:
- Elon Musk – $450 billion
- Jeff Bezos – $241 billion
- Larry Ellison – $218 billion
- Mark Zuckerberg – $208 billion
- Bernard Arnault — $167 billion