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.
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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.
