Elon Musk Regains Title as Richest Person on Hurun Rich List
Musk’s Net Worth Skyrockets to $420 Billion
Elon Musk, the CEO of Tesla and SpaceX, has once again become the world’s wealthiest individual, according to the Hurun Rich List. The 53-year-old entrepreneur’s net worth soared by 82%, reaching an astounding $420 billion, as reported by ET.
Tesla Stock Price and ‘Trump Effect’ Drive Wealth Growth
- Musk’s wealth growth was primarily driven by Tesla’s significant share price appreciation.
- Analysts attribute this growth to the ‘Trump effect’ – a surge in American billionaire wealth following Donald Trump’s presidency.
- Other American billionaires, such as Mark Zuckerberg, Jeff Bezos, and Jensen Huang, also experienced substantial wealth increases.
Post-Election Market Surge Benefits Musk and Thiel
Musk, a South African-born entrepreneur, saw significant gains during the post-election market surge that favored many American technology leaders, including his associate Peter Thiel.
- Thiel’s financial holdings increased by 67% to $14 billion.
- Musk’s extraordinary growth made him the first person to surpass $400 billion in personal wealth.
- The Hurun report attributes the rise in Tesla’s share value to increased investor confidence following Trump’s electoral success.
Fluctuations in Musk’s Wealth After Trump-Led Rally
However, Musk’s wealth has experienced significant fluctuations. After January 15, 2025, his net worth dropped by approximately $100 billion.
- This decrease occurred as Tesla’s market value plummeted by $700 billion.
- Investors expressed concerns about growing competition from Chinese electric vehicle manufacturers and negative consumer reactions to Musk’s political statements.
Despite these fluctuations, Musk continues to hold the title of the world’s richest person.
