Elon Musk, known for his ownership of companies like SpaceX, Tesla, and Twitter, has a vast array of income sources, leading him to achieve a net worth exceeding $400 billion.
This accomplishment makes Musk the first individual in history to reach such a high level of wealth.
As of December 11, the Bloomberg Billionaires Index lists the 53-year-old’s net worth at an astounding $447 billion, which is $198 billion more than Jeff Bezos, the world’s second-richest person, who has a net worth of $249 billion.
However, Forbes’ rich list estimates his worth at a lower figure of $379.4 billion.
Remarkably, just three weeks ago, reports indicated his net worth was $315.7 billion, signifying an increase of $63.7 billion according to Forbes.
Bloomberg’s data shows that since Election Day, when President-elect Donald Trump emerged victorious, Musk’s wealth has grown by approximately $136 billion.
Musk even holds a position within the White House.
“I am pleased to announce that the Great Elon Musk, working in conjunction with American Patriot Vivek Ramaswamy, will lead the Department of Government Efficiency (‘DOGE’),” Trump announced.
The President-Elect elaborated that the duo would ‘pave the way for my Administration to dismantle Government Bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure Federal Agencies – Essential to the ‘Save America’ Movement’.
In addition to Tesla, SpaceX, and Twitter, Musk owns the artificial intelligence firm xAI, the American infrastructure company The Boring Company, and technology enterprise Neuralink.
Neuralink describes its mission as follows: “We are currently focused on giving people with quadriplegia the ability to control their computers and mobile devices with their thoughts.”
Musk also holds significant investments in cryptocurrencies, including Dogecoin, which initially started as a humorous take on the crypto market using a well-known internet meme featuring a dog.
His forthcoming role as head of the new Department of Government Efficiency (DOGE) in the US is named after this memecoin.
Recently, a judge denied Musk’s record-breaking $56 billion payout from Tesla for a second time, ruling against the world’s wealthiest individual.
The $56 billion was part of a compensation plan agreed upon in 2018, which was noted in court as the largest ever observed in public markets.
Judge Kathleen McCormick described Tesla’s legal stance as ‘fatally flawed’ and occasionally ‘indefensible’, leading to the denial in her 101-page opinion.