Elon Musk net worth hits estimated $442 billion

Elon Musk’s estimated net worth has reached a record-setting $442 billion. This effectively makes the CEO the first person in history to achieve a net worth that surpassed the $400 billion mark. 

Musk’s net worth has seen a perfect storm of sorts in the latter half of this year, thanks in part to his substantial holdings in his businesses, such as private space company SpaceX, electric vehicle maker Tesla, and artificial intelligence startup xAI.

Key updates:

• Elon Musk’s net worth is tied to his companies, and this year, Tesla, SpaceX, and his other ventures such as xAI have seen notable jumps in valuation. 
• Musk’s $442 billion net worth was achieved after SpaceX’s valuation jumped to about $350 billion. This makes SpaceX the most valuable private company in the world, as noted in a Bloomberg News report. 
• Prior to SpaceX reaching a valuation of $350 billion, Musk’s net worth was already being boosted by his TSLA holdings. 
• Tesla has been on a wild tear since it reported its Q3 2024 earnings, which beat analyst expectations. Donald Trump’s win at the 2024 U.S. presidential election resulted in another TSLA rally that has not really lost momentum until today. 
• Tesla currently has a market cap of $1.315 trillion as of writing, nearing all-time highs.
• Musk’s artificial intelligence startup, xAI, also saw its valuation double this year to $50 billion.

A closer look: 

• SpaceX currently dominates the spaceflight sector, with the company launching 128 missions in 2024 as of three days ago. These are comprised of 123 Falcon 9, two Falcon Heavy, and three Starships, as per Space Explored. 
• SpaceX’s Starship program is making notable progress toward its goal of achieving full reusability.
• Tesla is the world’s most valuable automaker, and it currently produces the Model Y, the world’s best-selling vehicle by volume last year. The Cybertruck also stands as the United States’ best-selling electric pickup truck.
• Tesla’s Full Self-Driving (Supervised) system is making headway toward becoming a true driverless solution that can fully power vehicles like the Cybercab. 
• xAI quickly grew into one of the world’s most aggressive AI startup companies this year. 
• xAI was able to build its Colossus supercomputer, which was initially comprised of 100,000 Hopper GPUs, in just 122 days. This was a feat dubbed by Nvidia CEO Jensen Huang as “superhuman.”

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