Elon Musk has officially become the richest person in history; Know his net worth
According to Forbes, Elon Musk has officially become the richest person in history, with a net worth of $334.3 billion. Tesla’s stock surged on Wall Street optimism surrounding US President-elect Donald Trump, a close ally of Musk’s.
Tesla shares have gained 40 percent since Election Day, closing 3.8% on Friday at $352.56, its highest price in three years. The spike added $7 billion to Musk’s fortune, surpassing the previous record of $320.3 billion set in November 2021 during Tesla’s pandemic-driven stock boom.
Musk’s strong relationship with Trump has boosted investor confidence. Earlier this year, Musk endorsed Trump and donated more than $100 million to his campaign. He has also been appointed to chair the new “Department of Government Efficiency” (DOGE), where he will collaborate with biotech entrepreneur Vivek Ramaswamy. Analysts believe Tesla will benefit from the incoming administration’s expected deregulation efforts, particularly its fully self-driving program, which has faced regulatory challenges.
In addition to Tesla, Musk’s ventures in artificial intelligence and aerospace have contributed significantly to his wealth. His 60 percent stake in xAI, a private AI firm valued at $50 billion, added $13 billion to his fortune. His 42 percent stake in SpaceX, valued at $210 billion in a June tender offer, contributed $88 billion.
Speculation surrounding SpaceX’s next funding round, which could value the company at $250 billion, suggests that Musk’s net worth could rise further, potentially adding another $18 billion.
Musk’s net worth has now surpassed that of Oracle chairman Larry Ellison, the world’s second-richest person, who has $235 billion. Most of Musk’s wealth comes from his 13 percent stake in Tesla, which is valued at $145 billion, leaving a 9 percent equity award in the company.
Despite its historic fortunes, Tesla shares are about 14 percent below their all-time high at the end of 2021, while the broader S&P 500 index has gained 27 percent since then.