Since Election Night time, Elon Musk, who performed an lively function in President Donald Trump‘s efforts to safe a second time period in 2025, has solely gained better affect inside Trump’s inside circle.
On November 12, 2024, Trump introduced that Musk, together with former Republican presidential candidate Vivek Ramaswamy, would lead the newly established Division of Authorities Effectivity (DOGE), which isn’t an official authorities company. Trump stated the duo “will pave the way in which for my administration to dismantle authorities paperwork, reduce extreme rules, get rid of wasteful spending, and restructure federal businesses.”
Alongside this function, Trump’s ongoing endorsement of Musk has bolstered his enterprise ventures. For instance, SpaceX noticed its valuation surge to about $350 billion, in line with a Bloomberg report from December 2024.
Study extra about Musk’s web value and different particulars under.
What Is Musk’s Internet Value?
Musk at present has an estimated web value of $334.2 billion, in line with Forbes’ Actual-Time Billionaires Record.
He was the primary particular person to surpass a web value of $400 billion, peaking at $464 billion on December 17, 2024.
How Did Musk Make His Cash?
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. Though Musk nonetheless owns roughly 79% of the corporate at that authentic 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 Firm 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 Firm, in distinction, was valued at round $5 billion in its newest spherical.
Moreover, Musk owns about 54% of xAI, the synthetic intelligence firm he based in 2023. The startup was valued at $50 billion as of final month, in line with the Wall Road Journal.
Who Are the Richest Folks within the World?
As of in the present day, the richest individuals on the earth in line with Forbes’ Actual-Time Billionaires Record are:
- Elon Musk – $334.2 billion
- Jeff Bezos – $214.8 billion
- Mark Zuckerberg – $214.1 billion
- Larry Ellison – $186.5 billion