Elon Musk's net worth to reach USD 500 billion? Know source of his wealth

Elon Musk, the chief of Starlink and Tesla, has reclaimed his status as the richest man in the world, with his net worth recently surging past USD 400 billion. He is now on track to potentially set a new record, as his wealth could soon approach USD 500 billion. According to the Bloomberg Billionaires Index, Musk's current net worth is USD 474 billion, having increased by USD 19.2 billion in just one day.

Over the years, Elon Musk's wealth has emerged at an astonishing pace, surpassing that of other billionaires. In 2024 alone, the Tesla chief has earned USD 245 billion, largely fueled by the significant increase in the stock prices of his companies.

Elon Musk is currently the richest person in the world, with Jeff Bezos in second place, boasting a total net worth of USD 251 billion after an increase of USD 74.5 billion this year. Mark Zuckerberg ranks third, with a net worth of USD 221 billion, having added USD 92.6 billion in 2024.

The chief of Starlink publicly endorsed Donald Trump during the recently concluded United States Presidential Elections. Following Trump’s win, shares of Musk’s companies experienced a significant surge. According to data from the Bloomberg Billionaires Index, Musk’s wealth was recorded at USD 264 billion on November 5, 2024. In just 40 days, his net worth skyrocketed by USD 210 billion, representing a 107.1 percent increase this year.

Musk owns approximately 13 percent of Tesla's shares, which have experienced a remarkable increase of over 36 percent in just one month, significantly enhancing his wealth.

In addition, Musk holds about 42 percent of SpaceX, which is seeing considerable success. He is also estimated to have around 79 percent ownership in X Corp, further contributing to his substantial fortune.