Elon Musk’s net worth has reached new heights, surpassing the market capitalization of most US-listed companies and many global giants. According to the Bloomberg Billionaires Index, his net worth stands at $384 billion, with a staggering addition of $155 billion in 2024 alone.
A Look at the Numbers
Musk’s net worth now exceeds that of Amazon founder Jeff Bezos, who holds the second position with a net worth of $244 billion. Only 25 listed companies have a higher market capitalization than Musk’s current net worth.
US Companies with Lower Market Capitalization
Some notable US-based companies with a market capitalization lower than Musk’s net worth include:
- Bank of America Corp.
- Johnson & Johnson
- Salesforce Inc.
- Chevron Corp.
- Coca-Cola Co.
- Merck & Co Inc.
Global Companies with Lower Market Capitalization
Similarly, several global companies have a market capitalization lower than Musk’s net worth, including:
- LVMH Moet Hennessy Louis Vuitton
- AbbVie Inc.
- SAP
- ASML Holding NV
- Hermes International
- Samsung Electronics Co. Ltd.
The 10 Biggest Wealth Gainers
The top 10 biggest wealth gainers globally have seen their fortunes grow by a combined $506.4 billion in 2024, according to the Bloomberg Billionaires Index. Some notable names on this list include:
- Larry Ellison
- Jensen Huang
- Mark Zuckerberg
- Warren Buffett
What’s Driving This Growth?
Artificial intelligence (AI) and technological advancements appear to be the primary drivers of this growth. Companies like Tesla, Nvidia, and Meta have capitalized on the AI boom, leading to significant increases in their market value and investor wealth.
Market Performance
The markets have been resilient in 2024, with the S&P 500 hitting 56 new highs and the Dow achieving eight 1,000-point milestones. This growth has contributed to the surging net worth of top billionaires.
A New Era of Wealth Creation?
As the world continues to evolve and new technologies emerge, it’s likely that we’ll see more billionaires reaching unprecedented levels of wealth. The question remains, however, whether this growth is sustainable and what implications it may have for the global economy.