Elon Musk’s net worth rose $203 billion last year. That is almost the total net worth of the No. 3 person on the Bloomberg Billionaire list. Mark Zuckerberg’s net worth is $207 billion. (No.2 is Jeff Bezos at $239 billion.)
Musk’s net worth rose mainly because he owned part of three companies. Tesla Inc. (NASDAQ: TSLA | TSLA Price Prediction), of which he is chief executive officer, is worth $1.47 billion. That is up 82% this year. Tesla has 49% of the U.S. electric vehicle (EV) market and is seventh in China, the world’s largest EV market. Tesla’s value is also based on a lead in self-driving cars. Musk owns 20.5% of Tesla.
SpaceX virtually controls the U.S. rocket business and is the leader in the industry worldwide. It has established itself as the preeminent rocket launch provider, lofting satellites, cargo, and people to space for NASA, the Pentagon, and commercial partners. It is building out a large network of Starlink satellites providing internet service.
Musk owns 42% of SpaceX and has 79% of the company’s voting shares. He can make decisions about SpaceX without challenge. SpaceX was recently valued at $350 billion.
Among Musk’s other holdings, the most valuable may eventually be xAI, a major rival to OpenAI in the race to control the future of artificial intelligence. xAI recently raised $6 billion, which puts its value at between $40 billion and $50 billion. Musk owns over half of xAI.
Musk owns parts of several other companies, including social media platform X and implantable brain-computer interface operation Neuralink.
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