According to the Bloomberg Billionaires Index, Elon Musk's net worth skyrocketed to $447 billion on December 11 (local time) after Tesla shares rose 6% and valued SpaceX at $350 billion.

This year alone, Musk has added $218 billion to his fortune, a figure that is more than the net worth of nearly every billionaire on Bloomberg’s list except Bezos ($249 billion) and Mark Zuckerberg ($224 billion).

Musk is nearly twice as rich as businessman Larry Ellison ($198 billion) and more than three times as rich as Warren Buffett ($144 billion).

Elon Musk Bloomberg
Elon Musk is the richest person on the planet. Photo: Bloomberg

Musk's $63 billion one-day gain is on par with Changpeng Zhao's net worth ($63.2 billion), and according to Bloomberg , it also helped push the combined wealth of the world's 500 richest people past $10 trillion for the first time.

On paper, Musk also has more money than most public US companies, including Costco ($442 billion), Home Depot ($419 billion) and Netflix ($400 billion).

His wealth comes mainly from nearly 13% of shares and stock options in electric car company Tesla, 42% of shares in SpaceX. In addition, he also runs a series of other companies such as xAI, Neuralink, The Boring Company, X (Twitter).

This year, Tesla shares increased more than 70% to $425 at the close of trading on December 11, raising its capitalization to nearly $1.4 trillion.

Musk's prominent role in the Trump 2.0 administration fuels investor optimism about his businesses.

Five years ago, Musk’s net worth was only about $25 billion. So the change in the billionaire’s fortune is impressive. During the Covid-19 pandemic in 2020, Tesla was valued at just under $100 billion, about 1/14th of what it is today.

(According to Insider)