Elon Musk Is A Whisker Away From Being Worth $300 Billion (Again!)

By on November 7, 2024 in ArticlesBillionaire News

Donald Trump's Presidential victory has launched the stock market into overdrive as Wall Street predicts his second term will bring a much more business-friendly administrative touch to corporate America. Yesterday alone, the world's ten richest citizens saw their net worth increase by a combined $64 billion. Of that $64 billion increase, $26 billion was gained by one man: Elon Musk.

And with another gain today, Elon Musk's net worth is a whisker away from topping $300 billion.

If that number sounds totally unprecedented and make-believe, if he pulls it off, it will actually be the SECOND time Elon's net worth has cracked $300 billion. It will also complete an absolutely incredible turnaround in his fortunes from a low of $130 billion at the start of 2023.

(Photo by Michael M. Santiago/Getty Images)

A Brief History of Elon's Net Worth

On January 1, 2020, Elon's net worth was $28 billion.

On January 1, 2021, his net worth was $170 billion.

On October 28, 2021, Elon's net worth topped $300 billion for the first time.

On November 4, 2021, Elon was briefly worth $340 billion, enough to break John D. Rockefeller's 80-year streak as the richest human in modern history (when adjusting for inflation).

The next year or so was brutal for Elon's fortunes, primarily because of a major drop in Tesla's share price.

Elon ended 2022, having seen his net worth drop all the way back down to $130 billion.

A resurgence of Tesla's stock price and a new valuation at SpaceX allowed Elon to end 2023 with a net worth of $230 billion.

The first half of 2024 was yet another significant decline, all the way back down to $168 billion in April. The last few months have been a steady march back up to the top. That brings us to the present.

After spending $130 million of his own money supporting Donald Trump's reelection campaign, that bet paid off on Tuesday when the former President defeated Kamala Harris. With the win, it seems a safe bet that Trump will be very supportive of both Tesla and Elon personally. That's what Wall Street thinks. Hence, Elon's fortune jumping $26 billion on Wednesday and another $5 billion today, bringing his net worth as of this writing (Thursday, November 7, at 3 pm PST) to $295 billion.

Did we make a mistake?
Submit a correction suggestion and help us fix it!
Submit a Correction