Elon Musk's Net Worth in 2024 Nearly Hits US$500bn, the First in Modern History

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December 22, 2024 | 11:33 pm

Elon Musk. REUTERS/Allison Robbert

TEMPO.CO, JakartaAmong the 8.2 billion people living on Earth, there must be one person currently holding the most fortune. So, who is the world’s number 1 richest man?

Well, according to Forbes’ Real-Time Billionaires, Elon Musk, widely known as the CEO of the leading tech company, Tesla, is the richest man alive, at least as of 2024. To date, he has amassed over US$400 billion of net worth, making him the first to surpass 300 billion dollars of wealth.

But why is Musk so rich? We’ll take a closer look at the Tesla CEO’s net worth in 2024 and share a glimpse of his sources of wealth.

Elon Musk’s Net Worth in 2024 and His Sources of Wealth

As per Forbes, the net worth of Elon Musk in December 2024 is at an eye-popping US$430.9 billion. He sets a record for being the first to hit a net worth of US$400 billion. These astronomical figures primarily stem from his stakes in a number of companies, notably Tesla and SpaceX.

Not to mention that the billionaire plays a key figure in advocating for Trump for the 2024 US Presidential Election, hence increasing his massive fortune by 77 percent, and eventually joining the administration as the co-lead of the newly established Department of Government Efficiency.

For more, scroll down to discover Elon Musk’s sources of income that largely led him to be the richest person in the world, as cited from Investopedia and Forbes.

1. Tesla

Cofounding up to seven companies has been instrumental to Musk’s 11-figure net worth; Tesla is one of them. Founded in 2003, the South African-born man started investing in the company in 2004. Four years later, he served as the company’s CEO and has been one ever since.

In Tesla, he owns up to 13 percent of the stake, bringing him over US$100 billion. It’s also worth mentioning that the carmaker company is projected to witness a 30 percent growth in vehicle sales in the upcoming year.

2. SpaceX

Beyond EVs, Elon Musk makes most of his money from SpaceX. The latter primarily manufactures rockets but is also pivotal in resupplying the International Space Station.

In December 2024, SpaceX’s value stands at US$350 billion, and guess how many shares Musk has in the company. According to Investopedia, he holds 42 percent ownership of SpaceX.

3. X

Musk’s acquisition of Twitter in 2022 was considered to be controversial as he threatened a hostile takeover before eventually buying the company for US$44 billion and ending up with 79 percent of the stake. 

Under his ownership, Twitter witnessed a massive layoff and was rebranded to “X” in July 2023, hence eliminating the iconic blue bird logo. X is valued at an estimated US$9.4 billion.

4. Neuralink

Neuralink, co-founded by Musk, primarily designs a brain-computer interface and helps people with quadriplegia. The company’s value reveals a whopping US$8 billion. 

5. xAI

Founded in 2023, Musk owns 60 percent of the ownership in xAI. The artificial intelligence firm’s estimated value is US$40 billion.

6. The Boring Company

Valued at around US$5.7 billion in 2022, Musk’s The Boring Company offers a solution to traffic problems by constructing tunnels.

Find more on Tempo, as we have covered stories on some of the wealthiest people across the globe. Check out our previous content on Jay-Z’s net worth in 2024 to learn more about his sources of wealth.

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