Elon Musk Becomes First Person Worth Over $400 Billion, Surging $203 Billion in 2024

Musk's wealth growth, driven by Tesla, SpaceX, and xAI, widened his lead over Jeff Bezos to an unprecedented $172 billion.

Elon Musk's net worth reached $432 billion at the end of 2024, a record-breaking increase of $203 billion in one year.
Tesla's stock surged 93% in 2024, largely after Musk's involvement in Donald Trump's re-election and his appointment as co-head of the new Department of Government Efficiency.
SpaceX's valuation soared to $350 billion, boosting Musk's 42% stake to $147 billion, while his AI startup xAI raised $6 billion twice in 2024, increasing its valuation to $50 billion.
The world's 10 wealthiest individuals collectively gained over $500 billion in 2024, with tech leaders dominating the list due to an AI boom and favorable economic conditions.
Bernard Arnault was the only top-10 billionaire to see a decline in wealth, while Musk's $172 billion lead over Jeff Bezos marked the largest wealth gap between the top two richest individuals in history.