Musk’s fortune soared through a report $170 billion in 2024–striking him an all-time prime buck quantity forward of Jeff Bezos, the sector’s 2nd richest individual.
The hovering valuations of Tesla, SpaceX and xAI boosted Elon Musk’s fortune to an estimated $421.2 billion as of December 31, 2024, up from $251 billion in the beginning of 2024. He’s the primary individual to ever be value greater than $300 billion (a milestone he in short completed in 2021), let on my own $400 billion.
Because of this, Musk ended the 12 months a report $188 billion richer than the sector’s subsequent wealthiest individual, Amazon’s Jeff Bezos, who was once value an estimated $233.5 billion when the ball dropped in New York Town’s Occasions Sq. previous this week. A consultant for Musk has no longer responded to a request for remark from Forbes.
The report for the most important year-end lead between No. 1 and No. 2 richest greater than doubled in 2024. Again in 2021—the former report—Musk was once value $72 billion greater than then-No. 2 Bernard Arnault.
Musk in truth misplaced the identify of global’s richest individual to Arnault in January 2024, when a Delaware pass judgement on voided his 2018 deal to obtain choices equaling a 9% stake in Tesla—then value about $56 billion. (Forbes discounted the choices through 50% pending Musk’s enchantment.) However Musk regained the crown in Might, when his new synthetic intelligence startup xAI raised $6 billion at a $24 billion valuation, serving to spice up his fortune to $209.5 billion on the time. Since then he’s by no means appeared again.
In December, xAI raised some other $6 billion at a reported $50 billion valuation, giving Musk an estimated 54% stake value $27 billion. That very same month, SpaceX was once valued at $350 billion in a personal proportion sale, up from $180 billion a 12 months previous, boosting the worth of Musk’s estimated 42% stake to $147 billion.
Tesla stocks additionally hit an all-time prime on December 17 and ended the 12 months up 93%, with virtually all of that acquire coming after Musk helped re-elect Donald Trump as president on November 5 and was once named co-head of Trump’s new Division of Executive Potency (DOGE) every week later. That boosted the worth of Musk’s 12% stake in Tesla to $166 billion.
And that’s apart from Musk’s Tesla choices that had been voided through the Delaware pass judgement on in January 2024. Even though Tesla shareholders voted to reapprove the choices in June, in early December the Delaware pass judgement on reaffirmed her choice to void the award. For now, Forbes is continuous to cut price the choices through 50% pending Musk’s enchantment, giving them a reduced valuation of just about $57.8 billion.
Musk, who become the primary individual ever value $400 billion or extra in December, noticed his fortune bounce through a report $170 billion all the way through 2024–or through kind of one Bernard Arnault, who ended the 12 months as the sector’s 5th richest individual, value an estimated $168.4 billion.
Tesla stocks have fallen about 6% as of three pm E.T. on Thursday, January 2 following information from the corporate previous within the day that automobile deliveries in 2024 fell in comparison to 2023, and that fourth-quarter deliveries neglected analysts’ expectancies. That burnt up just about $15 billion from Musk’s fortune. However he’s nonetheless the number 1 richest, value an estimated just about $406 billion. And the distance between Musk and No. 2 Bezos continues to be yawning at just about $172 billion.
