In this piece, we’ll look at Elon Musk’s journey to become the richest man on the planet with $426 billion under his name. But first, let’s explain the term Net Worth and how we calculate it. Net Worth is the value of assets an individual or corporation owns minus the liabilities they owe. It’s an essential metric for examining one’s financial health, providing a snapshot of one’s current financial position. In this day and age, a famous figure’s net worth has become a cause for debate, critique, and a topic for gossip. No wonder we have lists that rank the wealthiest people over the globe and specific lists for entertainment celebrities.
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Musk’s Journey to $426 Billion
Elon Musk, the CEO of Tesla (TSLA) and SpaceX, has seen his net worth flying over the years. The first notable landmark dates back to 2002, when Musk made $165 million from the sale of PayPal to eBay. By 2012, he was first listed on the Forbes Billionaires List with a net worth of $2 billion. Fast forward to 2020, his net worth climbed to $27 billion at the start of the year and increased by another $150 billion by the end of 2020, thanks to Tesla’s strong year.
In January 2021, Musk’s net worth reached $185 billion, making him the wealthiest person in the world. However, like the man himself, his Net Worth hasn’t halted. By November 2021, he became the first to have over $300 billion net worth. According to Bloomberg, in December 2024, Musk’s net worth surpassed $400 billion, making him the first person to reach this milestone. Lastly, as of January 2025, his net worth is estimated to be around $426 billion.
Elon Musk’s Financial Milestones
- 2002 – $165 million.
- 2012 – $2 billion.
- 2020 – $150 billion.
- 2021: – Over $300 billion.
- 2024 – Over $400 billion.
Musk’s Multi-Functional Businesses
Elon Musk holds stakes in some of the biggest and most high-profile companies globally, which drive his wealth. Musk owns a 13% stake in Tesla, which is worth more than $100 billion. Tesla’s shares increased nearly 70% in 2024, significantly boosting his net worth.
He also owns 42% of SpaceX, valued at $350 billion in December 2024. He owns about 79% of X, estimated at around $9.4 billion. In addition, he founded xAI in 2023 and owns about 60% of the company, valued at around $40 billion. Then there’s the Boring Company, valued at $5.7 billion, which aims to solve traffic problems by building tunnels. Finally, there’s Neuralink, valued at an estimated $8 billion, which works in the fast-moving science sector of Brain-Computer Interface (BCI).
Final Words
Elon Musk’s journey from tech entrepreneur to the world’s richest person is nothing less than astonishing. His stakes in Tesla, SpaceX, and other ventures have driven his net worth to never-before-seen heights. With Trump’s re-election and projected favorable policies, Musk’s fortune has already seen a significant boost, making him a key figure in business and politics.
