Elon Musk's net worth now more than Jeff Bezos and Bill Gates ...

4 hours ago

Economic Times

Synopsis

Elon Musk has scaled another peak as the world's richest person with a net worth exceeding $400 billion. This surge is due to a recent SpaceX transaction and Tesla's stock rise. Musk's wealth now surpasses that of Jeff Bezos and Bill Gates.

ETMarkets.com

SpaceX and Tesla CEO Elon Musk has scaled yet another peak as the world's richest person, with his net worth surpassing the $400 billion mark as per the Bloomberg Billionaires Index.

Elon Musk net worth - Figure 1 — Photo Economic Times

Musk’s net worth stands at $447 billion, gaining $ 218 billion in this calendar year so far, and has surpassed the combined wealth of billionaires Jeff Bezos and Bill Gates, according to the Bloomberg Billionaires Index data.

Amazon founder Jeff Bezos, who is second on the list, has a total net worth of $249 billion and that of Microsoft co-founder Bill Gates stood at $165 billion, who ranks 7th in the Bloomberg’s Billionaire Index.

The sudden spike in Musk's wealth stems from a recent SpaceX transaction where the company and its investors agreed to buy insider shares worth up to $1.25 billion, valuing SpaceX at approximately $350 billion and a further increase in SpaceX share price resulted in inflating Musk's personal riches by another $50 billion approximately.

Elon Musk's extraordinary wealth is also driven by his substantial stakes in Tesla alongside SpaceX, with Tesla's stock experiencing a dramatic surge of nearly 65% following the U.S. presidential election in November.

The stock's significant rise was fueled by investor optimism over potential pro-business legislative changes, and Musk's strong support of the Trump campaign—which included a $270 million contribution—positioning him favorably in the new political landscape.

Also read: Bajaj Housing Finance shares drop 6% as 12 million shares hit market after 3-month anchor lock-in endsIn addition to his business success, Musk also secured a key advisory role in the Trump administration, co-leading the newly established Department of Government Efficiency, a position focused on streamlining bureaucracy and achieving substantial federal budget savings, further highlighting Musk's influence beyond his corporate enterprises.

Beyond his leadership at Tesla and SpaceX, Musk's diverse business portfolio spans groundbreaking ventures like xAI, Neuralink, The Boring Company, and the social media platform X (formerly Twitter). These ventures' rising valuations have significantly boosted Musk's overall net worth.

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