Elon Musk's net worth has more than doubled in 2024, reaching $486 billion, making him the first person in history to surpass $400 billion. This surge is largely attributed to investor optimism surrounding artificial intelligence (AI) and Musk's close relationship with Donald Trump, who was re-elected as US President. Despite Tesla experiencing reduced EV demand and no major product launches, its share price has increased 90% since Trump's victory, potentially fueled by investor expectations of eased safety regulations under a Trump administration.
South African-born Elon Musk has increased the gap between himself and the rest of the world’s richest people in 2024.
Much of this increase can be attributed to the Tesla and SpaceX CEO’s close relationship with Donald Trump, who was re-elected as US President in early November 2024. It has also experienced reduced demand for its EVs, part of a broader plateauing of sales in the sector. While SpaceX is not publicly listed, it was recently valued at $350 billion in a shareholder sale deal, nearly double its estimated value in December 2023.
Elon Musk Net Worth Artificial Intelligence Donald Trump Tesla Share Price
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Elon Musk's net worth tops $400-billionElon Musk has become the first person to reach $400-billion in net worth, the latest milestone for the world’s richest person.
Read more »
QUESTION: Will the Donald Trump-Elon Musk ‘bromance’ last?The world's richest man, Elon Musk, has been an ever-present sidekick for President-elect Donald Trump since the US elections this month.
Read more »
Elon Musk outlines plans for mass cuts as Donald Trump ‘efficiency’ czarElon Musk has outlined plans for his new role as 'efficiency' czar - signaling an assault on federal spending and staffing.
Read more »
Elon Musk’s millions for Donald Trump make him biggest US political donorSouth Africa-born tech billionaire Elon Musk spent at least $270 million to help Donald Trump win the US presidency.
Read more »
Into the stratosphere: Elon Musk’s net worth tops $440 billionTesla and SpaceX boss Elon Musk's net worth has surpassed $440 billion, setting a new milestone for the world's richest person.
Read more »
Elon Musk’s net worth is now BIGGER than South Africa’s GDPSouth Africa-born Tesla and SpaceX boss Elon Musk has seen his net worth surpass $440 billion, a figure bigger than Mzansi's GDP.
Read more »