Elon Musk’s net worth surged by a record-breaking $170 billion in 2024, propelling him to the top spot as the world’s richest person. His estimated fortune now stands at $421.2 billion, surpassing Jeff Bezos’ $233.5 billion and cementing his status as the first person to reach a net worth over $300 billion.
Musk’s wealth growth was fueled by significant valuations of his companies Tesla, SpaceX, and xAI. Tesla shares hit an all-time high in December, while SpaceX raised $6 billion at a reported $50 billion valuation, increasing Musk’s stake to 54% worth $27 billion. The company also saw a private share sale valued at $350 billion.
However, Musk briefly lost the title of world’s richest person in January 2024 after a Delaware judge voided his options deal with Tesla. But he regained the crown in May when xAI raised funds and SpaceX increased its valuation.
Despite this brief setback, Musk’s net worth continued to rise, exceeding $400 billion for the first time in December. His fortune is now nearly $172 billion ahead of Bezos’ estimated $233.5 billion.
Source: https://www.forbes.com/sites/mattdurot/2025/01/02/the-unprecedented-gap-between-elon-musk-and-the-worlds-next-richest