Elon Musk doubled his wealth this year and has almost half a trillion dollars
20 December 2024 11:09
The fortune of American entrepreneur Elon Musk is growing rapidly and is approaching $500 billion. In 2024, he earned $229 billion due to the growth in the value of his companies’ shares, according to the Bloomberg Billionaires Index, "Komersant Ukrainian" reports.
As of today, Musk’s net worth is estimated at $458 billion.
The second position in the ranking is occupied by Jeff Bezos with a capital of $251 billion, who increased his wealth by $63 billion over the year.
Mark Zuckerberg is in third place. His wealth increased by $83 billion in 2024 and reached $211 billion.
This is how Musk’s wealth grew during this year, as well as during his life:
Elon Musk is the head of Tesla, the world’s most expensive automaker, and the private space company SpaceX. He owns about 13% of Tesla and has 304 million options received as part of a 2018 compensation package that was twice canceled by the court in 2024. Musk also controls 42% of SpaceX, which is estimated to be worth $350 billion.
Musk owns about 79% of X Corp (formerly Twitter), which he acquired for $44 billion in 2022. However, its value subsequently fell by 72%, according to Fidelity Blue Chip Growth Fund estimates in October 2024. In addition, his stakes in Neuralink, xAI, and The Boring Company are valued based on the latest rounds of financing with a 15% liquidity discount.
Musk has pledged 58% of his Tesla shares to secure debt obligations, the total amount of which could be up to $3.5 billion. Some of his SpaceX shares are also pledged as collateral for loans calculated based on 25% of the value of the pledged shares.
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Elon Musk is a visionary entrepreneur
Elon Musk is one of the most influential entrepreneurs of our time, the founder and CEO of many innovative companies such as Tesla, SpaceX, Neuralink, and Boring Company. He was born on June 28, 1971 in Pretoria, South Africa. After moving to the United States, he became a pioneer in the field of electric vehicles, space technology, and artificial intelligence. Musk is often in the spotlight for his ambitious goals, including the colonization of Mars, the development of renewable energy, and the creation of neurocomputer interfaces.
Musk is also known for his active stance on social media, where he often posts controversial statements. In 2022, he acquired the Twitter platform, which he later renamed X. Musk takes a libertarian stance on Internet regulation and freedom of speech, opposing government interference in the activities of tech giants.
Musk plays a prominent role in the context of the Russian-Ukrainian war. His company SpaceX provides the Ukrainian Armed Forces with access to the Starlink satellite Internet, which has provided critical communications at the front. However, some of his public statements have caused outrage among Ukrainians and the international community. For example, Musk has proposed “peace initiatives” that included territorial concessions to Ukraine, which was perceived as support for the Kremlin’s narrative. Recently, Elon Musk was accused of secret contacts with Putin, and he ridiculed Zelenskyy’s statement about Ukraine’s independence.
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