Since Election Night, Elon Musk, who played an lively role in President Donald Trump‘s efforts to secure a second term in 2025, has only gained greater influence inside Trump’s inner circle.
On November 12, 2024, Trump announced that Musk, together with former Republican presidential candidate Vivek Ramaswamy, would lead the newly established Department of Government Efficiency (DOGE), which isn’t an official government agency. Trump said the duo “will pave the best way for my administration to dismantle government bureaucracy, cut excessive regulations, eliminate wasteful spending, and restructure federal agencies.”
Alongside this role, Trump’s ongoing endorsement of Musk has bolstered his business ventures. For instance, SpaceX saw its valuation surge to about $350 billion, based on a Bloomberg report from December 2024.
What Is Musk’s Net Price?
Musk currently has an estimated net price of $334.2 billion, based on Forbes’ Real-Time Billionaires List.
He was the primary person to surpass a net price of $400 billion, peaking at $464 billion on December 17, 2024.
How Did Musk Make His Money?
A good portion of Musk’s net price comes from his 12% stake in Tesla, which represents roughly 412 million shares. He has pledged 58% of his Tesla shares as collateral for private loans totaling $3.5 billion. In 2022, Musk sold $40 billion price of Tesla stock to assist fund his $44 billion acquisition of Twitter, which he later rebranded as X. Although Musk still owns roughly 79% of the corporate at that original valuation, Twitter’s price has dropped by nearly 70% as of August 2024.
Musk can be the co-founder of SpaceX and The Boring Company and serves as chairman of SolarCity. He owns 43% of SpaceX, which was valued at $180 billion in its most up-to-date funding round and is now estimated at $350 billion. The Boring Company, in contrast, was valued at around $5 billion in its latest round.
Moreover, Musk owns about 54% of xAI, the synthetic intelligence company he founded in 2023. The startup was valued at $50 billion as of last month, based on the Wall Street Journal.
Who Are the Richest People within the World?
As of today, the richest people on this planet based on Forbes’ Real-Time Billionaires List are:
- Elon Musk – $334.2 billion
- Jeff Bezos – $214.8 billion
- Mark Zuckerberg – $214.1 billion
- Larry Ellison – $186.5 billion
