Elon Musk has once again ascended to the top of Forbes’ World Billionaires List, amassing a staggering net worth of $342 billion. This marks a 75% increase in his wealth over the past year, surpassing French billionaire Bernard Arnault, who previously held the top spot.
Musk’s financial surge is attributed to soaring stock values of Tesla and SpaceX, despite Tesla facing recent operational challenges. Notably, for the first time, SpaceX has overtaken Tesla as Musk’s primary asset, with his 42% stake in the company playing a crucial role in boosting his fortune. Meanwhile, Bernard Arnault, now ranked fifth, has seen his wealth shrink due to declining luxury goods demand.
Also Read: Elon Musk Set to Launch Starlink in Bangladesh
Adding to his influence, Musk has secured a direct role in the U.S. government following Donald Trump’s return to the White House, serving as the head of the Department of Government Efficiency. His close ties with Trump are expected to shape regulatory decisions and federal funding, further strengthening his financial position.
With a lead of over $100 billion ahead of Mark Zuckerberg, who now ranks second, Musk’s dominance in the billionaire rankings seems set to continue. However, future market fluctuations and growing scrutiny over Tesla’s business practices could impact his trajectory.
