Elon Musk’s wealth has skyrocketed to almost $200 billion more than Jeff Bezos and worth more than Costco. His net worth jumped to $447 billion after Tesla stock surged 6% and SpaceX’s valuation rose to $350 billion, largely driven by employee share sales.
Just five years ago, Musk was worth about $25 billion, and his companies were valued significantly lower. However, his fortune has grown exponentially this year, exceeding the combined wealth of every other person on the rich list except Amazon’s Bezos ($249 billion) and Meta’s Mark Zuckerberg ($224 billion).
Musk is now more than twice as wealthy as Oracle’s Larry Ellison ($198 billion) and more than three times as rich as Warren Buffett ($144 billion). His one-day gain, the largest in the index’s history, rivals the total wealth of Binance cofounder Changpeng Zhao.
Tesla shares have surged over 70% this year to $425 at Wednesday’s close, valuing the company at nearly $1.4 trillion. Musk’s other businesses, including xAI, Neuralink, The Boring Company, and X Corp (formerly Twitter), contribute to his massive wealth.
The electric vehicle maker’s success is fueled by investors’ expectations of harnessing artificial intelligence in revolutionary products like self-driving cars and humanoid robots. Musk’s close role with Donald Trump’s campaign has also boosted optimism around his companies.
Source: https://www.businessinsider.com/elon-musk-bezos-tesla-spacex-stock-wealth-net-worth-billionaires-2024-12