Tesla CEO Elon Musk is the richest person in the world as of December 2024 and became the first person to have a net worth of over $400 billion, according to Bloomberg. The Bloomberg Billionaires Index estimates his net worth at around $442 billion as of this writing.

Musk's net worth is largely driven by his stakes in Tesla and privately held rocket and satellite manufacturing company, SpaceX. Tesla's shares have increased nearly 70% in 2024, and have jumped since the election. Meanwhile, an insider share sale of SpaceX in December 2024 boosted Musk's net worth by about $50 billion, according to Bloomberg.

Musk's net worth has increased by 77% since Trump's reelection as president in November, per Bloomberg. Musk has been vocal in his support for Trump, Forbes reported, joining him on the campaign trail and becoming Trump's second largest donor by putting $118 million into America PAC, which Musk created. Musk was appointed as co-lead of President-elect Trump's new 澳洲幸运5官方开奖结果体彩网:Department of Governmentཧ Efficiency, alongside former Republican presidential candidate, 澳洲幸运5官方开奖结果体彩网:Vivek Ramaswamy.

Musk is the richest person in the world, leading figures including Amazon.com (AMZN) founder Jeff Bezos, Meta's (META) Mark Zuckerberg, and Oracle's (ORCL) Larry Ellison according to Forbes and Bloomberg.

Here's how the Tesla CEO made his billions.

Tesla

Tesla is one of the 澳洲幸运5官方开奖结果体彩网:largest carmakers in the world. The company builds and designs fully electric vehicles and also makes 澳洲幸运5官方开奖结果体彩网:e꧟nergy generation and꧑ storage products like solar panels, solar rooꦰf tiles, and battery systems. Its vehicles include sedans, midᩚᩚᩚᩚᩚᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ𒀱ᩚᩚᩚ-size SUVs and the CyberTruck.

Tesla was founded in 2003 as Tesla Motors by Martin Eberhard and Marc Tarpenning. Musk invested in the company and was a member of the board starting in 2004. He became CEO in 2008.

Musk was allowed to claim the title of cofounder after an out-of-court settlement. Tesla went public in an 澳洲幸运5官方开奖结果体彩网:initial public offering (IPO) on June 29, 2010. In 2021, Tesla moved its headquarters from its native Palo Alto, Calif., to Austin, Texas. In July 2023, Tesla unveiled its first Cybertruck built in its Texas factory, almost 澳洲幸运5官方开奖结果体彩网:two years behind the original schedule.

Musk has a 澳洲幸运5官方开奖结果体彩网:13% ownership stake in Tesla worth more than $100 billion. In October 2024, Tesla announced its 澳洲幸运5官方开奖结果体彩网:strongest quarterly earnings in more than a year, reporting net income of $2.17 billion for the third quarter of 2024. The EV maker🔥 also projected a 30% growth in vehicle sales for 2025.

SpaceX

Musk is also the cofounder and CEO of SpaceX, a rocket manufacturing company that counts NASA as a client and helps resupply the International Space Station.

SpaceX became the most valuable startup in the world when it was valued at $350 billion during an insider share sale in December 2024, according to Bloomberg.

Musk owns 42% of SpaceX, which has launched over 400 rockets since it was founded in 2002, and has more than 4 million subscribers for its Starlink internet service.

X (Twitter)

In April 2022, 澳洲幸运5官方开奖结果体彩网:Musk bought Twitter for $44 billio꧋n after threatening a hostile takeover. The deal was finalized in October 2022 after Twitter sued Musk for trying to back out of the deal.

His takeover has been controversial, as he laid off much of the company’s workforce and added a paid subscription service ($8 per month) for anyone who wants their account verified. Musk owns about 79% of X. In July 2023, Musk rebrandedജ Twitter as X, replacing the blue bird ﷽logo with the letter.

Fidelity estimates that X is worth about $9.4 billion, according to Forbes, per disclosures released by the investment firm in September 2024. Fidelity's stake in X is now worth about $4.19 million, down about 79% before Musk bought X.

xAI

Musk founded artificial intelligence firm xAI in 2023. As of October 2024, xAI is in talks for a funding round with investors that would value the company at about $40 billion, according to The Wall Street Journal. Musk owns about 60% of xAI, per Forbes. The team at xAI is led by Musk and others who have previously worked with OpenAI, DeepMind, Google Research, Microsoft Research, and Tesla.

The Boring Company

Musk is also the founder of The Boring Company, a construction company that aims to “solve traffic” by building tunnels. The company raised $675 million in April 2022 at a valuation of $5.7 billion, according to a release.

Neuralink

Musk co-founded a company called Neuralink which designed a "brain-computer interface," a chip that can be implanted into the brain and would allow users to control their computers and mobile devices with their thoughts.

According to the company's website, Neuralink is working to help those with quadriplegia, a symptom of paralysis that affects a person's limbs and body from the neck down, with the ability to control their devices with their thoughts.

The company, which launched its first human trial in January 2024, is valued at an estimated $8 billion, according to Reuters.