Forbes Billionaires List or Bloomberg Billionaires Index

Elon Musk's Net Worth Hits $447 Billion, Surpassing Bezos and Gates Combined

Dec 12, 2024, 03:59 PM

Elon Musk, the South African-born CEO of Tesla and SpaceX, has become the first person to surpass a net worth of $400 billion, reaching up to $447 billion. His fortune, which has increased by $62.8 billion in a single day and by 1,550% since 2020 when it stood at $27 billion, is propelled by a nearly 71% surge in Tesla's stock price this year and the soaring valuation of SpaceX, bolstered by insider share sales. Musk's wealth now exceeds that of Jeff Bezos and Bill Gates combined, placing him nearly $200 billion ahead of his closest rivals. His net worth surpasses the market capitalization of major corporations such as Costco, Coca-Cola, Bank of America, and Chevron, and is greater than 475 companies in the S&P 500. Remarkably, it also exceeds the combined value of all NFL, NBA, MLB, and NHL franchises. Projections estimate that Musk could become the world's first trillionaire by 2027.