Elon Musk’s personal fortune is even greater than the capitalization of retail giant Costco .

According to the Bloomberg Billionaires Index, Elon Musk’s net worth as of December 12 is $447 billion. He pocketed an additional $63 billion in just one day thanks to Tesla shares rising 6% and SpaceX being valued at $350 billion.

In 2024, Elon Musk’s fortune has increased by $218 billion. This amount alone is also higher than all the other rich people on the list, except for Amazon’s Bezos ($249 billion) and Meta’s Mark Zuckerberg ($224 billion).

Elon Musk is now twice as rich as Oracle’s Larry Ellison ($198 billion) and three times richer than Warren Buffett ($144 billion).

The number of assets that increased in a single day is also as high as the wealth of Binance co-founder Changpeng Zhao ($63.2 billion). Bloomberg said that this also made the total wealth of the 500 richest people on the planet exceed $10 trillion for the first time. 

Elon Musk’s paper wealth is higher than the capitalization of most American public companies, including Costco ($442 billion), Home Depot ($419 billion) and Netflix ($400 billion).

Elon Musk’s assets include a 13% stake and several stock options in Tesla and a 42% stake in SpaceX. Musk’s other businesses include xAI, Neuralink, The Boring Company, and X Corp (formerly Twitter).

Tesla shares have risen more than 70% this year, reaching $425 per share on December 12. Tesla’s capitalization is currently at nearly $1,400 billion. This figure also far exceeds the capitalization of Buffett’s Berkshire Hathaway (about $1,000 billion) and is almost equal to Meta’s capitalization of $1,600 billion.

Shares of the electric vehicle maker have soared as investors believe the company will harness artificial intelligence (AI) in revolutionary products such as self-driving cars and humanoid robots.

Elon Musk’s prominent role in Donald Trump’s campaign and the task of leading the new Government Efficiency Department also fueled optimism about his companies.

Elon Musk’s wealth is likened to a rocket increase because in April, Musk’s total wealth was less than $170 billion. Furthermore, 5 years ago, Elon Musk owned about $25 billion, equal to 1/18 of his current net worth.

Meanwhile, during the Covid pandemic in 2020, Tesla’s market capitalization was less than $100 billion, equal to 1/14 of the current capitalization.

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