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Elon Musk put an extra $120 billion into his already full pockets this year, cementing his place as the richest person in the world while hanging out with President-elect Donald Trump.
Trump’s so-called “first friend” is even richer after Trump’s election victory. The net worth of Tesla executives this year has risen to a total of $349 billion Bloomberg Billionaires Index.
Musk owns roughly 12 percent of Tesla, the world’s most valuable car company,Forbes noticed.
The company’s shareholders also gave him a Compensation package for 2018 worth more than 50 billion dollars. But a judge in Delaware overturned it on Monday. She wrote in her decision that what would be the largest pay contract in history was an “unfathomable sum” that “appears to be calibrated to help Musk achieve what he believed would be a ‘good future for humanity.'” .
Monday’s decision confirms her decision in January, when she also refused the pay package. “Never start your company in the state of Delaware,” Musk wrote in January on X, another company he owns.
He pledged to use 58 percent of his Tesla shares as collateral for his personal loans, according to Bloomberg.
Musk bought the social media platform, then known as Twitter, for $44 billion in 2022. Fidelity valued its stake in X at $5.53 million at the end of October, a nearly 72 percent decline in value since Musk took over the company, according to its Fidelity Blue Chip Growth Fund Monthly Report.
The tech billionaire also owns about 54 percent of xAI, an artificial intelligence company he founded in 2023. The startup is valued at 50 billion dollars last month, according to The Wall Street Journal.
Then there’s SpaceX. Musk owns roughly 42 percent of the airline, which was valued at $210 billion in June, according to data Bloomberg. He also founded The Boring Company, an infrastructure company that he says aims to dig transport tunnels to “solve traffic”. Company announced that it was worth $5.68 billion in April 2022 after a Series C funding round.
Neuralink, Musk’s computer-brain connectivity company that develops brain chips, is valued at $5 billion as of June 2024. Reuters. In January, Musk published on X that the first human patient has received an implant from Neuralink and is “recovering well.”
Musk contributed a whopping $230 million his personal coffers for Trump’s America PAC, which he created in the last month before the presidential election, FEC filings Thursday was revealed. In the weeks leading up to Election Day, Musk made three separate donations of $25 million to the Super PAC, according to records.
But that was not all; The SpaceX founder also donated more than $20 million to the controversially named RBG (Ruth Bader Ginsburg) PAC, which misrepresented the late Supreme Court justice as a Trump champion, in late October. new applications show.
Trump hit Musk to lead newly created department of government efficiency alongside billionaire entrepreneur Vivek Ramaswami.
Despite the campaign for improvement economic conditions for working-class AmericansTrump has filled his next administration with a large handful of billionaires, including Musk. The net worth of Trump’s second White House it is estimated to be higher than the gross domestic product more than 11 dozen countries.
Billionaires have doubled their wealth in the past decade, totaling from 14 trillion dollarsthe Swiss bank UBS announced this week.