elon-musk-hits-record-500b-net-worth-as-world-s-richest

Elon Musk, the CEO of Tesla, has achieved a historic milestone with his net worth surpassing $500 billion, as reported by the Bloomberg Billionaires Index. This makes him the first individual in history to reach such an extraordinary level of wealth.

Musk leads Tesla, the world's most valuable carmaker, known for its electric vehicles and solar technology. He is also the head of SpaceX, a rocket company contracted by NASA for space station resupply missions.

 

Additionally, Musk owns X, the social media platform formerly called Twitter, along with ventures like Neuralink, xAI, and The Boring Company.

Wealth Milestones and Company Stakes

In December 2023, Musk's net worth had previously climbed to $400 billion, setting another record at the time. His financial success is closely tied to his stakes in Tesla and other ventures:

1. Tesla Holdings: Musk owns about 13 per cent of Tesla, according to the company's 2024 proxy statement. He also has 304 million stock options from a 2018 compensation package.
2. SpaceX: Musk controls 42 per cent of SpaceX, which was valued at nearly $350 billion in a 2024 tender offer.
3. X (formerly Twitter): Musk acquired the social media platform for $44 billion in 2022 and owns 79 per cent. However, its valuation has since dropped by about 72 per cent, based on Fidelity's October 2024 filings.
4. Other Ventures: Musk’s stakes in Neuralink, xAI, and The Boring Company are based on funding rounds and valuations, adjusted with a 15 per cent liquidity discount.

From Tesla's Growth to Mars Ambitions

Tesla became the world’s most valuable carmaker in July 2020, a pivotal moment that catapulted Musk’s wealth. By January 2021, he was already the world’s richest person. Musk relocated Tesla's headquarters to Austin, Texas, in 2021 and continues to expand his business empire.

In 2022, Musk acquired Twitter and later rebranded it as X in 2023. Beyond his financial accomplishments, Musk has expressed aspirations to retire on Mars and is part of Warren Buffett's Giving Pledge, committing to donate much of his wealth to philanthropic causes.

Elon Musk's unprecedented $500 billion net worth underscores his influence as a business leader and innovator across multiple industries.

 

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