Official Tesla press releases or credible financial news sources

Elon Musk's Net Worth Surges to $442 Billion, Outstripping Bank of America's Value

Dec 11, 2024, 12:50 AM

Elon Musk has become the richest person in the world with a net worth of $442 billion, surpassing the $400 billion mark for the first time. His wealth has increased by $150 billion this year, largely due to a surge in Tesla's share price following Donald Trump's win in the 2024 US Presidential Election. Musk's net worth is now more than $100 billion higher than that of Jeff Bezos, the second richest individual with a net worth of $240 billion. Bernard Arnault, previously the world's richest person, has dropped to fifth place with less than half of Musk's wealth. Musk's companies, including Tesla, SpaceX, and The Boring Company, are seen as having a significant impact on humanity, with SpaceX now being the most valuable private company globally. Musk's wealth is now greater than the market value of Bank of America, which stands at $351 billion.