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Climbing his way into first place of today’s billionaires, South African-born Elon Musk is making headlines for his political affiliations as much as his business decisions. Two of his most well-known are Musk’s purchase of Twitter (X) in 2022 and founding of artificial intelligence startup xAI in 2023. Since the November presidential election, the Tesla and SpaceX CEO has become even richer, by 77%, than he was last year. Selling shares of Space X garnered the surpassing of his own record-setting wealth amount now making him worth more than Costco. Wondering how much that is exactly? Here’s what we know about Elon Musk’s net worth.
Who Is Elon Musk?
Elon Musk received bachelor’s degrees in physics and economics from the University of Pennsylvania in Philadelphia. In 1995, he moved to California to pursue a master’s degree in physics from Stanford University. He would leave, after only two days in the program, as he was certain that the internet had more potential for changing the world than physics. In 2000, the entrepreneur co-founded X.com, which later became PayPal. In 2002, he founded and became the CEO of Space Exploration Technologies (SpaceX), in addition to being the chief designer with the goal of making more affordable and reusable rockets. Two years later, he would also become the CEO of Tesla, a multinational automotive and clean energy company.
Musk has, in addition to running Tesla, valued at $1.4 trillion, and SpaceX, which is valued at $350 billion, along with his purchases of then-Twitter and xAI, the latter of which is valued at $50 billion. Musk’s most recent net worth was estimated to be $439 billion.
What Has Contributed To Elon Musk’s Net Worth?
A host of financial moves have contributed to Elon Musk’s net worth. The insider share sale that boosted his net worth by 77% was for over $60 billion. He’s also, just since the start of 2024, added $218 billion to his net worth. Although currently undetermined how this would impact his financial status, Musk is also projected to join President-Elect Donald Trump’s new administration. Musk’s position would be co-lead of the Department of Government Efficiency. This role, while outside of the government, is directly connected to the administration. Role responsibilities include “…dismantling Government Bureaucracy, slashing excess regulations, cutting wasteful expenditures,” according to a statement from Trump one week after the election.
Other Activity From The CEO Of Tesla and SpaceX
Musk’s projected participation in Trump’s administration joins a list of other roles that the entrepreneur fulfills. SpaceX developed and currently operates the Starlink satellite network. Neuralink, a neurotechnology company, develops implants that stimulate brain activity. In addition to X, the last of the ventures is The Boring Company, an infrastructure and tunnel construction company that Musk developed as a result of heavy traffic. While the company is still developing, others continue to generate wealth for him while he (more than likely) is plotting on his next venture.
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