Elon Musk: How he became one of the richest people in the world in 2024
26 december 2024 в 21:13
Since the election, Elon Musk, who actively participated in the efforts of President-elect Donald Trump to secure a second term in 2025, has only increased his influence within Trump’s inner circle of close allies. In November 2024, Trump announced that Musk, along with former Republican presidential candidate Vivek Ramaswami, would lead the newly created Department of Government Efficiency (DOGE), which is not an official government agency. Trump stated that this pair would «pave the way for my administration to dismantle government bureaucracy, reduce excessive regulations, eliminate wasteful spending, and restructure federal agencies».
In addition to this role, Trump’s constant support of Musk has helped boost his business enterprises. For example, SpaceX has increased its valuation to approximately $ 350 billion, according to a Bloomberg report.
Find out more about Musk’s financial position and learn who else is currently one of the richest people in the world.
According to Forbes' Real-Time Billionaires List, Musk’s net worth is estimated at $ 450 billion by December 2024.
A significant portion of Musk’s net worth comes from his 12% stake in Tesla, which amounts to approximately 412 million shares. He has pledged 58% of his Tesla shares as collateral for personal loans totaling $ 3.5 billion. In 2022, Musk sold $ 40 billion worth of Tesla shares to help finance his acquisition of Twitter for $ 44 billion, which he later renamed X. Although Musk still owns approximately 79% of the company based on the initial valuation, the value of Twitter had dropped by almost 70% by August 2024.
Musk is also a co-founder of SpaceX and The Boring Company, as well as the chairman of SolarCity. He owns 43% of SpaceX, which was valued at $ 180 billion in the latest funding round and is now valued at $ 350 billion. The Boring Company, on the other hand, was valued at approximately $ 5 billion in the latest round.
Additionally, Musk owns approximately 54% of xAI, an artificial intelligence company he founded in 2023. The startup was valued at $ 50 billion according to the Wall Street Journal last month.
Currently, the richest people in the world according to Forbes' Real-Time Billionaires List are:
In addition to this role, Trump’s constant support of Musk has helped boost his business enterprises. For example, SpaceX has increased its valuation to approximately $ 350 billion, according to a Bloomberg report.
Find out more about Musk’s financial position and learn who else is currently one of the richest people in the world.
According to Forbes' Real-Time Billionaires List, Musk’s net worth is estimated at $ 450 billion by December 2024.
A significant portion of Musk’s net worth comes from his 12% stake in Tesla, which amounts to approximately 412 million shares. He has pledged 58% of his Tesla shares as collateral for personal loans totaling $ 3.5 billion. In 2022, Musk sold $ 40 billion worth of Tesla shares to help finance his acquisition of Twitter for $ 44 billion, which he later renamed X. Although Musk still owns approximately 79% of the company based on the initial valuation, the value of Twitter had dropped by almost 70% by August 2024.
Musk is also a co-founder of SpaceX and The Boring Company, as well as the chairman of SolarCity. He owns 43% of SpaceX, which was valued at $ 180 billion in the latest funding round and is now valued at $ 350 billion. The Boring Company, on the other hand, was valued at approximately $ 5 billion in the latest round.
Additionally, Musk owns approximately 54% of xAI, an artificial intelligence company he founded in 2023. The startup was valued at $ 50 billion according to the Wall Street Journal last month.
Currently, the richest people in the world according to Forbes' Real-Time Billionaires List are:
© Artemenko Olga
