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**Elon Musk’s Net Worth: How the Tesla CEO Became the World’s Richest Person**.zin

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Elon Musk’s Net Worth: How the Tesla CEO Became the World’s Richest Person

Elon Musk delivers remarks in the Oval Office at the White House on February 11, 2025 in Washington, DC.

By Emily Blackwood | Published on March 15, 2025 | 08:00 AM EDT

Elon Musk has built a record-breaking fortune, making history in 2024 as the first person to surpass a net worth of $400 billion.

A Meteoric Rise

After selling PayPal in 2002, Musk’s financial ascent was rapid. He first appeared on Forbes’ billionaires list in 2012 with a net worth of $2 billion. By 2020, he had climbed to third place, overtaking Mark Zuckerberg, and soon after, he surpassed Bill Gates to claim the second spot.

By December 2024, Bloomberg confirmed that Musk’s wealth had exceeded $486 billion, securing his position as the wealthiest person on the planet.

A Recent Decline

However, his fortune has since taken a hit. As of March 2025, Forbes reports Musk’s net worth at approximately $330 billion—down over $120 billion. This decline follows a drop in Tesla stock, reportedly linked to his involvement with President Donald Trump’s tariffs and his controversial role in the newly created Department of Government Efficiency (DOGE).

Where Does Musk’s Wealth Come From?

Musk’s fortune is spread across multiple ventures:

  • Tesla (58.3%) – The majority of his wealth stems from his stake in the electric vehicle giant, valued at $195 billion in 2024.
  • SpaceX (26.6%) – Musk’s share in his aerospace company is worth about $89 billion.
  • X.AI (8%) – His artificial intelligence startup contributes roughly $27 billion to his fortune.
  • X, Neuralink & The Boring Company (Combined ~5%) – These ventures add another $16 billion.

The Tesla Effect

Tesla remains Musk’s primary asset, but his deep political involvement has raised concerns. Following Trump’s election, Musk was appointed co-chair of DOGE, a move that some analysts believe has damaged Tesla’s public perception, contributing to its stock price drop in 2025.

SpaceX’s Billion-Dollar Valuation

While Tesla fluctuates, SpaceX remains a major financial pillar. In December 2024, a private share sale valued the company at $350 billion, boosting Musk’s wealth significantly. His 42% stake makes SpaceX his second-largest financial asset.

The X Investment

Musk’s ownership of X (formerly Twitter) has proven less profitable. Though he acquired the platform in 2022, it currently accounts for just 2% of his total net worth, around $6.7 billion.

Philanthropy & Controversy

Despite his immense wealth, Musk has donated an estimated $406 million—less than 1% of his net worth. His Musk Foundation has faced scrutiny for donating largely to organizations tied to him or his businesses. Additionally, reports indicate that some of his donations haven’t met the legal requirements for tax deductions.

Musk’s View on Wealth

Despite his financial empire, Musk has claimed minimalism. He once stated he had sold “almost all physical possessions” and even lived in a $50,000 rented home. When criticized for his vast wealth, Musk responded that he was accumulating resources “to help make life multi-planetary.”

While Musk’s net worth has seen dramatic highs and lows, his influence across multiple industries remains undeniable.

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