Elon Musk has a net worth of around $638 billion, according to Bloomberg’s Billionaires Index.
His net worth is closely tied to Tesla’s share price, but the tech mogul’s wealth comes from several sources and often fluctuates. He crossed over the $600 billion threshold in December following an $800 billion valuation of SpaceX.
That means Musk regularly trades places with Amazon founder Jeff Bezos, Meta CEO Mark Zuckerberg, and Oracle CEO Larry Ellison for the title of world’s richest person.
How has Musk’s net worth changed over time?
Musk, who was born in South Africa, moved to Canada and dropped out of a Ph.D. at Stanford, became a millionaire before he hit 30. Musk started Zip2, a website that provided city travel guides to newspapers, with his brother Kimbal Musk, and sold it to Compaq for more than $300 million in 1999. Musk, then aged 27, is believed to have got $22 million from the deal.
He went on to cofound online bank X.com in 1999. It soon merged with Peter Thiel’s Confinity to become PayPal, and the company was bought for $1.5 billion by eBay in 2002. Despite having been ousted as CEO, Musk walked away with around $165 million.
Musk cofounded space-exploration company SpaceX in 2002. In 2004, he became an investor in and the chairman of EV company Tesla.
During the financial crisis in 2008, he saved Tesla from bankruptcy with a $40 million investment and a $40 million loan. That same year, he was named Tesla’s CEO.
Musk said 2008 was “the worst year of my life.” Alongside problems in his personal life, Tesla kept losing money and SpaceX was having trouble launching the first version of its Falcon rocket. By 2009, Musk was living off personal loans.
Tesla went public in 2010, though, and Musk’s estimated net worth steadily climbed. In 2012, he debuted on Forbes’ Billionaires List with an estimated wealth of $2 billion.
In 2016, Musk set up the tunnel-digging business, the Boring Company.
The next year, he founded the neurotechnology startup Neuralink.
Musk’s net worth began a rapid ascent at the start of the pandemic as Tesla stock prices soared. Musk started 2020 with an estimated net worth of just under $30 billion and was worth around $170 billion just a year later — a more than five-fold increase in just a year. His estimated fortune peaked at around $340 billion in November 2021.
Musk also bought Twitter for $44 billion in October 2022, serving as its CEO until he stepped down in early June 2023.
The stock is known to be volatile and has had its ups and downs since then.
The morning of Trump’s reelection on November 6, 2024, which Musk heavily campaigned for, Tesla’s stock was up about 15%, for instance.
Following an insider share sale at SpaceX, which boosted the startup to a $350 billion valuation, Musk’s wealth surged again in December 2024 by about $50 billion in one day, making Musk the first billionaire to reach the $400 billion mark.
But in the months following its election highs, Tesla’s stock dropped by over 50% following a number of factors, including a vehicle sales slump, a rising Tesla boycott movement, and Musk’s stint in the US government, which some investors felt took him away from his day-in-day-out Tesla CEO duties.
Tesla’s stock rose back up following the CEO taking a step back from his role in the Department of Government Efficiency, but it continues to have big swings. Musk had one of his single-day highest net worth losses in June 2025 following a public spat on social media with the President, in which Trump floated the idea of having his government contracts revoked, and Musk repeatedly criticized Trump’s “Big Beautiful Bill.”
The stock has since rebounded and was up over 25% in 2025 as of December.
Musk’s net worth reached unprecedented heights in December 2025, as Musk confirmed SpaceX was planning an IPO. After an insider share sale valued the private company at $800 billion, Musk’s estimated net worth surpassed $600 billion.
Musk was the first billionaire to have reached a net worth of over $500 billion, according to Forbes, making him one step closer to becoming the world’s first trillionaire.
Where does Musk’s fortune come from?
Musk’s wealth is largely dependent on Tesla shares. Though he takes no salary from Tesla, he’s awarded stock options when the company hits challenging performance metrics.
Musk’s previous $55 billion compensation plan was voided in January 2024 on the grounds that Musk had undue influence over the package and its approval due to close ties with several board members. At its annual shareholder meeting in 2024, investors voted to approve Musk’s pay package. However, the judge upheld the original ruling, and the company has since appealed the decision.
A compensation package Tesla proposed for its CEO in September 2025 could turn Musk into the first trillionaire. The unprecedented plan included a new set of 12 milestones to be completed over a 10-year period, such as boosting the company’s valuation to $8.5 trillion, selling 12 million cars, getting a million robotaxis on the road, and coming up with a succession plan.
A large part of Musk’s net worth comes from Tesla shares, while roughly over 20% comes from SpaceX stock.
The rest of his wealth comes from shares in Twitter and The Boring Company, as well as other miscellaneous liabilities.
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