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Elon Musk's Wealth Evaporates by $75 Billion This Year, Top Rich Position Likely to Change Hands
Summary: According to reports from Jinshi, Elon Musk's role as head of the Department of Government Efficiency seems to have had a bigger impact on his wealth than expected. According to the Bloomberg Billionaires Index, Musk's wealth has shrunk by over $75 billion this year, with a net worth of around $357 billion, far below the ...
According to reports from Jinshi, Elon Musk's role as head of the Department of Government Efficiency seems to have had a bigger impact on his wealth than expected. According to the Bloomberg Billionaires Index, Musk's wealth has shrunk by over $75 billion this year, with a net worth of around $357 billion, far below the peak of over $450 billion at the end of 2024.
The decline is mainly due to the performance of his 13% stake in Tesla. Tesla's stock price has fallen by nearly 20% this year. Musk's lead as the world's richest person is being eroded by competitors: Oracle founder Larry Ellison and Meta CEO Mark Zuckerberg are closing in. Currently, Musk is only about $54 billion ahead of Ellison.
Oracle has seen explosive growth thanks to its AI strategy and cloud computing business, with its stock price rising by over 50% this year, leading to a rapid increase in Ellison's wealth. If this trend continues, Musk is highly likely to lose the top spot as the world's richest person by the end of the year.
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Link: Elon Musk's Wealth Evaporates by $75 Billion This Year, Top Rich Position Likely to Change Hands [Copy]
