November: Elon Musk has officially surpassed all previous records to become the wealthiest individual in history, according to Forbes. The Tesla and SpaceX CEO's net worth has reached an astounding $334.3 billion, a significant milestone that makes him the richest person ever recorded.
This remarkable achievement follows a dramatic surge in Tesla's stock prices, which climbed by 40% after the US presidential election. Tesla shares soared to their highest value in over three years, reaching $352.56 per share in the latest trading session, with Musk's wealth benefiting from this increase. This gain of $7 billion pushed Musk past the previous record of $320.3 billion, a peak he reached in November 2021 during Tesla's pandemic-driven boom.
Musk's fortune is largely bolstered by his 13% stake in Tesla, now valued at $145 billion. Additionally, Musk holds a 9% equity award pending in the electric car giant, further increasing his financial portfolio.
Beyond Tesla, Musk has significant investments in various high-growth ventures. He holds a 60% stake in artificial intelligence company xAI, valued at $50 billion, contributing an additional $13 billion to his fortune.
Musk is also the owner of a 42% stake in SpaceX, the aerospace company valued at $210 billion after a June tender offer. With potential future funding rounds that could increase SpaceX's valuation to $250 billion, Musk's wealth could see another substantial increase in the coming months.
Larry Ellison, the chairman of Oracle, currently holds the second spot on the world's richest list with a net worth of $235 billion, far behind Musk's record-setting fortune.
With a combination of visionary leadership in the tech, AI, and space industries, and his influence in the business world, Elon Musk's financial success shows no signs of slowing down.