Elon Musk Net Worth Nears USD 500 Billion Mark as His Wealth Sees Significant Growth in 2024, Here's Why

Elon Musk's net worth has seen massive increase in 2024 due to several factors. Mostly, the net worth of Musk increased due to rise in Tesla Motors share prices and win of Donald Trump in US Presidential Election 2024. According to Bloomberg Billionaires Index, as on December 18, Elon Musk's wealth stood at USD 486 billion, making him a historical figure who is the first to achieve such heights. His net worth is expected to reach around USD 500 billion soon.

Musk added nearly USD 190 billion to his wealth this year. Currently, he owns companies like Tesla, SpaceX, X, xAI, Neuralink and The Boring Company among others. In 2015, Elon Musk had around USD 12 billion which grew nearly 30 times over the years and became USD 366 billion as of December 2024, making him the richest person in the world. The tech billionaire's majority of the wealth comes from Tesla which has boasts market cap of USD 1.3 trillion and SpaceX which is valued at USD 350 billion. Bitcoin Price Hits All-Time High: Why Bitcoin Broke Records Again and Again in 2024.

Elon Musk Net Worth in Q1 2024

In first quarter of this year, Elon Musk had around USD 195 billion in 2023 as per the 37th Forbes list of the world's billionaires. He was on the second position, right behind Bernard Arnault & Family having USD 211 billion. From January to March 31, 2024, Elon Musk net surged due to rise in the Tesla shares amid excitement of the people about upcoming models. On January 31, it was announced that NOAA and SpaceX entered strategic agreement. Tesla also started getting approvals in countries like India.

Elon Musk Net Worth in Q2 2024

In April 2024, SpaceX signed agreements with other companies like Filtronics. Elon Musk had around USD 201 billion in wealth and was soon to overtake Jeff Bezos, co-founder of Amazon Inc. By that time, he had already surpassed Mark Zuckerberg. In this month, Tesla asked shareholders to vote again on Elon Musk’s $56 billion compensation package, which was previously voided by a Delaware court earlier this year.

Elon Musk Net Worth in Q3 2024

During July to September 2024, Elon Musk's wealth rose significantly crossing reaching all-time high. In early August 2024, he had around USD 223 billion which rose to USD 270 billion by September 2024. With this, he became the fourth-largest wealth gainer of the year along with other billionaires like Mark Zuckerberg, Larry Ellison and Jensen Huang. Musk benefitted form Tesla's overall market performance, rising global EV demand and favourable economic conditions. Elon Musk Teases Starlink’s Ability by Playing Real-Time Video Game on Airplane.

Elon Musk Net Worth in Q4 2024

After previous quarter, it was reported that Musk would become world's first trillionaire by 2027. In Q4 2024, Elon Musk's net worth signficantly rose hitting all-time high due to Donald Trump winning US Elections 2024 and becoming 47th President of the United States and rise in Tesla shares. The world's richest person added around USD 60 billion in his wealth after Trump's victory and more till mid-December 2024.

(The above story first appeared on LatestLY on Dec 19, 2024 11:55 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).