Elon Musk’s Wealth Skyrockets—Here’s His Latest Net Worth | Global News Avenue

According to statistics, Tesla CEO Elon Musk is the world’s richest man as of November 2024, with an estimated net worth of more than $308 billion Forbes. The Bloomberg Billionaires Index estimates his network is worth about $335 billion.

Musk’s net worth increased by about $20 billion on Nov. 6 after shares of electric car maker Tesla rose. (TeslaDonald Trump was up 12% on Wednesday morning after his re-election as president, according to data Forbes. Musk has always publicly expressed his support for Trump. Forbes He reportedly joined his campaign and poured $118 million into America PAC, the political action committee founded by Musk, becoming Trump’s second-largest donor.

This is the second major increase in Musk’s net worth in recent works. In October 2024, Tesla’s stock price rose by US$34 billion, the largest increase since May 2013 third quarter earnings This beat analysts’ expectations. Since then, as Tesla’s market value has increased, so has his wealth.

Musk is the world’s richest man, leading figures including Amazon (Amazon) Oracle founder Jeff Bezos (ORCL) Larry Ellison and Mehta’s (Mehta) According to Mark Zuckerberg Forbes and Bloomberg. Much of Musk’s net worth comes from his holdings in Tesla, SpaceX, social media platform X and artificial intelligence company xAI.

Here’s how the Tesla CEO makes billions.

Tesla

Tesla is one of them world’s largest car manufacturer. The company builds and designs all-electric vehicles and also produces Energy production and storage products Examples include solar panels, solar roof tiles and battery systems. Its vehicles include sedans, mid-size SUVs and CyberTrucks.

Tesla was founded in 2003 by Martin Eberhard and Marc Tarpenning as Tesla Motors. Musk invested in the company and has been a board member since 2004. He became CEO in 2008.

After an out-of-court settlement, Musk was allowed to assume the title of co-founder. Tesla goes public Initial Public Offering (IPO) June 29, 2010. In 2021, Tesla moved its headquarters from Palo Alto, California to Austin, Texas. In July 2023, Tesla launched the first Cybertruck produced at its Texas factory, almost two years behind Original schedule.

Musk has one 13% equity Tesla is worth over $100 billion. In October 2024, Tesla announced Strongest Quarterly Earnings In just over a year, the company reported third-quarter 2024 net profit of $2.17 billion. The electric car maker also expects vehicle sales to grow 30% in 2025.

space exploration technologies corp.

Musk is also the co-founder and CEO of SpaceX, a rocket manufacturing company that counts NASA as a customer and helps resupply the International Space Station.

SpaceX was worth $210 billion According to statistics, as of May 2024 Bloomberg. The company is considered the second most valuable startup after TikTok parent ByteDance, according to market intelligence platform CB Insights.

Musk owns 42% of SpaceX, which has launched more than 400 rockets since its founding in 2002 and has more than 4 million users of its Starlink Internet service.

X (Twitter)

April 2022, Musk buys Twitter Acquired for $44 billion after threatening hostile takeover. The deal was finalized in October 2022 after Twitter sued Musk in an attempt to back out of the deal.

His acquisition was controversial as he laid off most of the company’s staff and added a paid subscription service ($8 per month) for anyone who wanted to verify their account. Musk owns approx. 79% of. In July 2023, Musk changed Twitter’s name to X, replacing the bluebird logo with letters.

Fidelity estimates that X is worth approximately $9.4 billion Forbes, According to disclosure information released by the investment company in September 2024. Fidelity’s X shares are currently worth about $4.19 million, down about 79% from before Musk acquired X.

AI

Musk founded the artificial intelligence company xAI in 2023. xAI is reportedly in talks with investors for a funding round that would value the company at about $40 billion as of October 2024 Wall Street Journal. According to statistics, Musk owns about 60% of xAI Forbes. The xAI team is led by Musk and others who have worked with OpenAI, DeepMind, Google Research, Microsoft Research and Tesla.

boring company

Musk is also the founder of The Boring Company, a construction company that aims to “solve transportation problems” by building tunnels. The company raised $675 million in April 2022 at a valuation of $5.7 billion, according to a press release.

neural link

Musk co-founded a company called Neuralink, which designs a “brain-computer interface,” a chip that can be implanted in the brain and allow users to control computers and mobile devices with their thoughts.

Neuralink is working to help quadriplegic patients by giving them the ability to control devices with their thoughts, according to the company’s website. Quadriplegia is a form of paralysis that affects a person’s limbs and body from the neck down.

The company launched its first human trials in January 2024 and is estimated to be valued at $8 billion Reuters.