Elon Musk Wealth Soars to Highest Level in History, Dangote Gets New Position in World Ranking
by by Dave Ibemere · Legit.ng News · Join- Elon Musk is now the first public figure in history to have a net worth of over $400 billion, new data shows
- Musk's wealth has been on the rise since Donald Trump was elected the 45th President of the United States
- Aliko Dangote, Africa's richest man, has also recorded an increase in his wealth and has climbed in the world’s rich list
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Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Elon Musk, the world’s richest person, has reached a remarkable milestone, becoming the first to amass a net worth exceeding $400 billion.
Data obtained from Bloomberg showed that as of Thursday, December 12, Musk's total net worth is $447 billion.
Musk's wealth has crossed $400 billion after gaining $62.2 billion in just 24 hours.
For context, Nigeria's 2024 budget is N28.7 trillion, which was approximately $33.4 billion when passed but is now worth $18.53 billion when the latest exchange rate is used.
Musk leads the world's rich list
Musk's current net worth, attributed to Tesla, SpaceX, and xAI, cements his position as the wealthiest individual ever tracked, placing him $200 billion ahead of his closest rival, Jeff Bezos.
Top 5 richest men in the world
- Elon Musk - $447bn
- Jeff Bezos - $249bn
- Mark Zuckerberg - $224bn
- Larry Ellison - $198bn
- Bernard Arnault - $181bn
- Larry Page - $174bn
- Bill Gates - $165bn
- Sergey Brin - $163bn
- Steve Ballmer - $155bn
- Warren Buffett - $144bn
Aliko Dangote remains Africa's richest man
It was not only Elon Musk that recorded an increase in wealth. Aliko Dangote's net worth also improved.
According to Bloomberg, Africa's richest man's net worth rose by $68.5 million (N106.05bn) within 24 hours.
Dangote's newfound wealth helped him climb to the 68th position on the list of the world's 500 wealthiest men.
South African billionaire Johann Rupert and his family, the second richest in Africa, have a net worth of $13.9bn.
Dangote wealth rises by N3bn
In an earlier report, Legit.ng revealed that Nigerian billionaire Aliko Dangote made $2.32 million, or N3.90 billion, on Monday, November 25, 2024.
According to the Bloomberg Billionaires Index, his new wealth helped push him up two places in the world’s billionaire rankings.
Dangote's net worth has increased by $13 billion in 2024.