Elon Musk, CEO of Tesla and SpaceX, has a net worth of $334.3 billion, making him the richest person in history, according to Forbes. His wealth increased after Tesla shares rose 3.8% to a 3.5-year high of $352.56, following a positive market reaction to Donald Trump's election triumph.
Musk's fortune has increased by $70 billion since US Election Day, fueled by Tesla's 40% stock spike amid expectations of a more favorable regulatory environment under Trump 2.0 administration. Musk's recent appointment as chair of the "Department of Government Efficiency" (DOGE), which also includes biotech entrepreneur Vivek Ramaswamy, has boosted investor confidence.
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Musk’s fortune is now $80 billion ahead of Oracle chairman Larry Ellison, the second-richest person with $235 billion. A significant portion of Musk’s wealth comes from his 13% stake in Tesla, valued at $145 billion. An additional 9% equity award in Tesla is pending an appeal, which Forbes values at 50%.
SpaceX, Musk’s private aerospace company, also contributes significantly, with his 42% stake valued at $88 billion, based on a $210 billion valuation from a June tender offer. Musk’s generative AI company xAI has also surged in valuation, reaching $50 billion, adding $13 billion to his fortune. Musk owns 60% of xAI.
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Other assets include less significant stakes in Neuralink, a brain-implant company, and X (formerly Twitter), the social media platform he rebranded.