Since Election Night, Elon Musk, who performed an energetic function in President Donald Trump‘s efforts to secure a second term in 2025, has only gained greater influence within Trump’s internal circle.
On November 12, 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 mentioned the duo “will pave the way for my administration to dismantle government bureaucracy, cut excessive regulations, eliminate wasteful spending, and restructure federal agencies.”
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, based on a Bloomberg report from December 2024.
Learn extra about Musk’s web price and different particulars beneath.
What Is Musk’s Net Worth?
Musk at present has an estimated web price of $334.2 billion, based on Forbes’ Real-Time Billionaires List.
He was the primary particular person to surpass a web price of $400 billion, peaking at $464 billion on December 17, 2024.
How Did Musk Make His Money?
A good portion of Musk’s web price 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 bought $40 billion price 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 price has dropped by almost 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 bogus intelligence firm he based in 2023. The startup was valued at $50 billion as of final month, based on the Wall Street Journal.
Who Are the Richest People within the World?
As of immediately, the richest folks on this planet based on Forbes’ Real-Time Billionaires List are:
- Elon Musk – $334.2 billion
- Jeff Bezos – $214.8 billion
- Mark Zuckerberg – $214.1 billion
- Larry Ellison – $186.5 billion