Elon Musk has become the world’s richest person, with his net worth exceeding $400 billion, according to Forbes’ real-time billionaires list. This surge is largely due to a 71% increase in Tesla’s shares this year and the valuation of SpaceX, the rocket company he heads.
As Tesla’s largest shareholder, Musk owns around 13% of the EV maker. The company’s shares reached a record high of $424.9 on Wednesday, extending a rally that began after President-elect Donald Trump won the election. Musk also sold insider shares in SpaceX to bring in new investors, which valued the company at over $350 billion.
Musk is optimistic about his business ventures, including Tesla and Neuralink, both of which rely heavily on government regulation and policy. His ownership of social media site X and tunnel builder The Boring Company further demonstrate his diversified portfolio.
Jeff Bezos comes in second with a net worth of $243.7 billion, while Larry Ellison ranks third with a net worth of $223.4 billion. Musk’s wealth continues to grow as he benefits from a business-friendly administration, which could positively impact companies like SpaceX and Neuralink.
Source: https://www.reuters.com/technology/elon-musks-net-worth-tops-400-bln-forbes-billionaires-list-shows-2024-12-12