The value of his businesses, such as SpaceX, xAI, and Tesla Inc., increased as a result of his tight connection with the next president. His wealth increased by $213 billion from the start of the year to an astonishing $442.1 billion.
The biggest difference between the top and second-ranked names on Bloomberg’s wealth index was $237 billion between him and Bezos on December 17.
In general, the richest people in the world profited from a stock market that surprised everyone in 2024. The tiny group of companies known as the “Magnificent Seven,” which included Musk’s Tesla,
Zuckerberg’s Meta Platforms Inc., and Huang’s Nvidia Corp., drove the S&P 500 Index’s 24% increase through Monday. These firms accounted for more than half of the benchmark’s gains.
Trump’s victory in the election increased the gains: On November 6, the S&P 500 had its strongest post-Election Day performance ever, reaching an all-time high.
In the five weeks after the election, the billionaires on the index made a total of $505 billion in gains, or 34% of the year total. Additionally, Trump’s win spurred a record surge in digital assets,
