Even though Musk was already a rather wealthy man, in 2024 he added over $218 billion to his net worth, making him the richest person in the group.
The majority of Musk’s wealth is derived from Tesla shares, which have increased 71% this year and ended earlier this week at $424.77, its first record high since 2021.
The value of Tesla shares has grown as a result of Donald Trump’s recent pledge to help make self-driving cars more accessible by doing away with tax benefits for electric vehicles that benefit the company’s rivals.
Additionally, according to the Bloomberg Index, SpaceX and its investors agreed to buy $1.25 billion worth of shares from workers and other company insiders, making.
It the world’s most valued private firm. The space exploration corporation is valued at $350 billion after the transaction.
