Elon Musk's Wealth Hits $447 Billion, Surpasses Bezos and Costco

Elon Musk's fortune has reached an unbelievable $447 billion, making him nearly $200 billion richer than Amazon’s Jeff Bezos. Musk’s net worth is now higher than the market value of Costco, showcasing his dominance as the world’s wealthiest person.

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Record-Breaking Wealth in a Single Day

On Wednesday, Musk’s fortune grew by an astonishing $63 billion in just 24 hours. This historic jump came after Tesla’s stock rose by 6%, and SpaceX’s valuation increased to $350 billion following share sales among employees.

This year alone, Musk’s wealth has grown by $218 billion, putting him far ahead of most billionaires. He is now over twice as wealthy as Oracle’s Larry Ellison ($198 billion) and more than three times richer than Warren Buffett ($144 billion).

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Tesla and SpaceX Leading the Growth

• Tesla’s Boom: Tesla’s stock has climbed more than 70% in 2023, closing at $425 per share. This has boosted the company’s valuation to nearly $1.4 trillion. Investors are increasingly optimistic about Tesla’s plans for self-driving cars and humanoid robots powered by artificial intelligence.

• SpaceX’s Success: SpaceX’s value soared to $350 billion after recent share sales. The company’s innovations, including its Starlink satellite internet service, continue to drive its growth in the space industry.

Bigger Than Major Companies

Musk’s $447 billion fortune is larger than the market value of several major U.S. corporations:

• Costco ($442 billion)

• Home Depot ($419 billion)

• Netflix ($400 billion)

His wealth comes mainly from his 13% stake in Tesla and 42% ownership of SpaceX. Musk’s other ventures, like Neuralink, The Boring Company, xAI, and X Corp (formerly Twitter), also add to his fortune.

Unmatched Wealth Growth

Musk’s rise to the top of the billionaire list has been remarkable:

• Five years ago, Musk’s net worth was only $25 billion.

• During the 2020 COVID-19 market crash, Tesla was valued at under $100 billion—about 1/14 of its current value.

Musk's Influence on the Future

Musk’s close involvement with the incoming administration of President Donald Trump has also fueled excitement. As an advisor tasked with improving government efficiency, Musk’s influence on policy and technology is expected to grow.

With Tesla and SpaceX leading their industries, Musk’s wealth shows no signs of slowing down. He remains a symbol of innovation and financial success on a global scale.

Also Read: SEC Extends Deadline for Elon Musk's Response in Twitter Investigation Settlement