Elon Musk’s net worth once exceeded $400 billion following a surge in SpaceX’s valuation in December 2024. Here’s a look at the world’s richest people today.
Since Election Night, Elon Musk, who played an active role in President Donald Trump‘s efforts to secure a second term in 2025, has only gained greater influence within Trump’s inner circle. In November 2024, Trump announced that Musk, along with former Republican presidential candidate Vivek Ramaswamy, would lead the newly established Department of Government Efficiency (DOGE), which is not an official government agency. Trump said the duo “will pave the way for my administration to dismantle government bureaucracy, cut excessive regulations, eliminate wasteful spending, and restructure federal agencies.”
In addition to this role, Trump’s continued endorsement of Musk has helped boost his business ventures. For example, SpaceX’s valuation surged to around $350 billion, according to a Bloomberg report from December 2024.”
Find out more about Musk’s current financial standing and discover who else is currently among the richest people in the world.
A significant portion of Musk’s net worth comes from his 12 percent stake in Tesla, which represents approximately 412 million shares. He has pledged 58 percent of his Tesla shares as collateral for personal loans totaling $3.5 billion. In 2022, Musk sold $40 billion worth of Tesla stock to help fund his $44 billion acquisition of Twitter, which he later rebranded as X. Although Musk still owns roughly 79 percent of the company at that original valuation, Twitter’s worth has dropped by nearly 70 percent as of August 2024.
Musk is also the co-founder of SpaceX and The Boring Company and serves as chairman of SolarCity. He owns 43 percent of SpaceX, which was valued at $180 billion in its most recent funding round and was estimated at $350 billion in December 2024. The Boring Company, in contrast, was valued at around $5 billion in its latest round.
