The CEO of Tesla, SpaceX, and X (Twitter) is constantly making headlines for his business ventures, political affiliations, and controversies. And now, according to CNBC, Musk is on track to becoming a trillionaire.
From sending rockets into space to implanting AI into people’s brains, Musk has amassed almost unimaginable wealth. But most recently, he has made headlines for losing $15 billion following a highly anticipated Tesla Cybercab reveal. Let’s take a look at his net worth before and after and examine just how the man accrued his wealth.
What is Elon Musk’s Net Worth in 2024?
As of September of 2024 (before the reveal of the cybercab), Musk’s net worth was estimated to be around $228 billion. Of his many business ventures, Tesla stock has been the biggest contributor to his wealth, especially as of 2020 when the electric vehicle market started to really take off. Between January of 2020 and January of 2021, Tesla stock skyrocketed from around $30 per share to $300 per share.
How Did Elon Musk Make His Money?
Outside of Tesla, Musk has pursued many other business ventures in the tech space. In 2022 he bought Twitter and turned it into X. However, this venture was not as successful as Tesla and the app is actually now worth less than 80% of the $44 billion he bought it for.
He also involved himself with Neuralink, a brain-computer interface company that aims to implant chips into brains in an effort to allow people to control devices with mere thoughts. Ross Gerber, a friend and investor in Tesla explains Musk’s business motivation: “Elon only gets involved with things if he feels that they’re critically important for some reason… for the sake of society or humanity”.
Elon Musk did not limit his investments to earth-bound companies. He also founded SpaceX, a Space Exploration Technology Corporation that manufactures spacecrafts and satellites to launch into space. It is the first private company to do so, though they have not escaped launch issues that have graced headlines over the past 2 years.
Musk’s Net Worth Drops $15 Billion
Most recently, Musk revealed a new “Cybercab” from Tesla that is apparently entirely autonomous and will be sold by 2027 for $30,000 a pop. At the reveal event, Musk gave vague answers as to how the self-driving cars would be built, when they would hit the market, and the kind of tech that would make it all possible.
People are largely concerned about the concept of using AI and cameras for navigation as opposed to the more common hardware that other EV companies use. The new tech is much harder to regulate and thus investors were unimpressed and Tesla stock quickly started to plummet following the event.
Despite a drop in Tesla stock, Elon Musk remains the wealthiest man in the world and the $15 billion dip is but a drop in the bucket for the man well on his way to becoming a trillionaire. Between attending Trump rallies, getting involved in controversies on X and launching new products almost very other week, Musk finds himself gracing headlines almost daily now.
