Elon Musk’s record $447 billion fortune means he’s nearly $200 billion ahead of Jeff Bezos — and worth more than Costco

Date:

Tesla CEO Elon Musk.Steve Granitz/FilmMagic/Getty Images
  • Elon Musk is almost $200 billion richer than Jeff Bezos and worth more than Costco.

  • His net worth hit $447 billion after Tesla stock jumped and SpaceX’s valuation rose to $350 billion.

  • Just five years ago, Musk was worth about $25 billion, and Tesla was valued below $100 billion.

Elon Musk is nearly $200 billion richer than Jeff Bezos, and personally worth more than Costco, after adding $63 billion to his fortune in a single day.

His net worth surged to $447 billion on Wednesday, per the Bloomberg Billionaires Index, after Tesla stock jumped 6% and SpaceX’s valuation leaped to $350 billion based on employee share sales.

Musk’s fortune has ballooned by $218 billion this year — a sum that exceeds the net worth of every other person on the rich list except Amazon’s Bezos ($249 billion) and Meta’s Mark Zuckerberg ($224 billion).

Musk is now more than twice as wealthy as Oracle’s Larry Ellison ($198 billion), and more than three times as rich as Warren Buffett ($144 billion).

His one-day gain — the largest in the index’s history — rivals the total wealth of Binance cofounder Changpeng Zhao, ranked 23rd with a $63.2 billion fortune. It also helped to lift the combined wealth of the 500 richest people on the planet to above $10 trillion for the first time, Bloomberg said.

Musk is now worth more on paper than the vast majority of US public companies, including Costco ($442 billion), Home Depot ($419 billion), and Netflix ($400 billion).

His wealth is largely made up of his roughly 13% stake and some contested stock options in Tesla, and his 42% slice of SpaceX. Musk’s other businesses include xAI, Neuralink, The Boring Company, and X Corp, formerly Twitter.

Tesla shares have surged more than 70% this year to $425 at Wednesday’s close, valuing the company at nearly $1.4 trillion. That figure comfortably exceeds the roughly $1 trillion market value of Buffett’s Berkshire Hathaway and approaches the $1.6 trillion value of Zuckerberg’s Meta.

The electric vehicle maker’s shares have soared as investors bet it will harness artificial intelligence in revolutionary products such as self-driving cars and humanoid robots.

Tesla's robot called Optimus behind a glass display
Tesla is developing Optimus robots.Future Publishing/ Getty

Musk’s prominent role in Donald Trump’s campaign, and his emergence as a close advisor to the president-elect who’s tasked him with streamlining the US government, have also fueled optimism around his companies.

SpaceX is now valued at $350 billion based on the latest price paid by the company and its backers to buy shares from employees, Bloomberg reported Wednesday. The Starlink owner’s valuation was previously $210 billion after a secondary share sale in June.

Share post:

Popular

More like this
Related

Maye calls conversations about Mayo, Van Pelt job security ‘some B.S.’

Maye calls conversations about Mayo, Van Pelt job security...

Mark Davis was so delighted about the Raiders’ win even though it likely ruined their NFL Draft position

By winning 19-14 against the Jacksonville Jaguars on Sunday,...

Week 16 Pulse Check: Unlikely heroes emerging in the fantasy football playoffs, but will it continue?

It’s nearly time for championship week! We’re done looking...

What we learned as Kings hit rock bottom with huge loss to Pacers

What we learned as Kings hit rock bottom with...