Elon Musk is one of the wealthiest people in the world, with an estimated net worth of US $290 billion as of November 2024, according to the Bloomberg Billionaires Index, and $300.3 billion according to Forbes, primarily from his ownership stakes in Tesla, Inc. and SpaceX

Elon Musk’s net worth surges past $300B as Tesla’s market value crosses $1 trillion

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Elon Musk’s backing of President-elect Donald Trump has paid off handsomely as his net worth surged past the $300 billion mark on Friday — much of it due to Tesla’s market capitalization surpassing $1 trillion.

Musk, who donated nearly $120 million to a pro-Trump super PAC, was worth $302 billion as of Friday, according to Forbes, which calculated his fortune by factoring in his 20% stake in Tesla as well as his estimated 42% equity in SpaceX.

In November 2020, around 75% of Musk’s wealth was derived from his stake in Tesla.