Elon Musk’s net worth is one of the most searched—and most debated—figures in global finance.
Depending on the day, the source, and the swings of Tesla’s stock price, he can be worth anywhere from the mid-$300 billions to well over $430 billion.
The reason? Unlike a fixed salary or cash balance, Musk’s fortune is tied almost entirely to the market valuations of the companies he leads: Tesla, SpaceX, xAI, Neuralink, and others.
That means his wealth rises and falls with investor sentiment, private-market transactions, and even court battles over pay packages.
In this guide, we break down how major trackers like Bloomberg and Forbes calculate his net worth, why their numbers differ, and what really drives Musk’s place on the billionaire leaderboard.
What Is Elon Musk’s Net Worth?
Short answer: there isn’t one single number. Elon Musk’s fortune swings with the prices and valuations of the companies he leads—mainly Tesla (public), and SpaceX and xAI (private)—so different trackers land on different figures on different days.
In mid-September 2025, major wealth lists showed a wide range. Bloomberg’s Billionaires Index had him roughly in the high-$300 billions while Forbes’ real-time list had him north of $430 billion on certain trading days. The gap comes down to methods (more on that below) and the fact that most of Musk’s wealth is tied up in volatile assets.
Two respected trackers explain their approaches. Bloomberg updates a daily net-worth figure and applies explicit “key-person” and private-company liquidity discounts; it publishes a methodology page detailing those inputs. Forbes runs both an annual list and a real-time tracker and explains how it adjusts the value of big private holdings.
The different discounts and market inputs are why you’ll often see two credible—but different—answers to the same “Elon Musk net worth” question.
If you’re searching specifically for “Elon Musk net worth,” the most accurate way to read any figure is to pair it with a date, source, and the big drivers that day: Tesla’s share price, SpaceX private-market transactions, and any new financing or valuation updates for xAI or Neuralink.
2024 Net Worth
Musk’s wealth surged in 2024. On December 12, 2024, Reuters reported—citing the Forbes real-time list—that Musk’s net worth crossed $400 billion, propelled by a roughly 71% rally in Tesla’s stock that year and robust private-market demand for SpaceX shares around a then-$350 billion valuation. It was the first time a tracked net worth had moved past the $400 billion threshold.
Earlier in 2024, the picture looked more modest. When Forbes published its annual World’s Billionaires list in April 2024 (a snapshot taken weeks earlier), it pegged Musk’s net worth at about $195 billion, behind LVMH chairman Bernard Arnault. That underscores the point: list-day snapshots can lag big market moves. By year-end 2024, the Tesla rebound and SpaceX secondary sales had dramatically re-inflated the tally.
On the private side, xAI (Musk’s AI startup) closed a $6 billion Series B in May 2024 at a $24 billion post-money valuation, adding another asset to his balance sheet—albeit one typically discounted for illiquidity in net-worth models. Neuralink’s private-market pricing also climbed through 2024, with Reuters noting trades above prior marks; together these helped broaden Musk’s portfolio beyond Tesla and SpaceX.
2023 Net Worth
In 2023, Musk’s fortune was recovering from a sharp 2022 drawdown. Forbes’ April 2023 ranking put him at $180 billion—down from late-2021 peaks—largely reflecting Tesla’s share price slump after his Twitter (now X) acquisition and the market pullback. By late 2023, his wealth had begun to rebound alongside a Tesla recovery, but the April snapshot captures the trough-ish state for that year.
How Does Elon Musk Make His Money?
The bulk of Musk’s net worth stems from equity ownership in the companies he leads or founded:
Tesla (Ticker: TSLA)
Musk’s largest public holding. Through 2024 and into 2025, reputable outlets consistently cited his Tesla stake at roughly 12–13% of the company, after sizable stock sales in 2022 tied to his Twitter purchase. The exact percentage moves over time with new grants and any share sales, but Reuters repeatedly referenced “around 13%.” A new 2025 stock award—if fully earned—could push his stake north of 15% over time. Because Tesla is public, day-to-day moves in TSLA are the single biggest swing factor in Musk’s stated net worth.
SpaceX (private)
SpaceX has become Musk’s most valuable private asset. In mid-2025, multiple reports described a secondary share sale valuing SpaceX around $400 billion, after previous transactions at $350 billion in late 2024. Musk’s exact stake isn’t disclosed in SEC filings (SpaceX is private), but mainstream outlets and Forbes generally estimate he holds on the order of ~40%–42%. Because this stake isn’t publicly traded, wealth trackers apply private-market and “key-person” discounts.
xAI (private)
Musk’s AI company raised $6 billion at a $24 billion valuation in May 2024 and has since explored additional financings and even a debt package in 2025, with media reports citing attempts to secure higher valuations or employee tender programs. How these translate into Musk’s personal stake varies by deal structure, but they add materially to his private-company wealth bucket.
X (formerly Twitter, private)
Musk owns the social network X, which has had a volatile implied valuation since his $44 billion acquisition in 2022. Fidelity, a minority investor, repeatedly marked down its stake in 2023–2024, implying a 70%–80% drop from the purchase price at various points. Some reports in early 2025 suggested higher marks amid financial restructuring and new investor activity, but independent, audited financials are not public; wealth lists generally treat X as a comparatively smaller (and more uncertain) piece of Musk’s net worth versus Tesla and SpaceX.
Neuralink & The Boring Company (private)
Neuralink raised fresh capital in 2025 at valuations around $8.5–$9 billion; The Boring Company has been marked in secondary sales above $7 billion. These are meaningful but smaller line items compared with Tesla and SpaceX.
A Profile On Elon Musk
| Attribute | Details |
| Full Name | Elon Reeve Musk |
| Date of Birth | June 28, 1971 |
| Nationality | American (born in South Africa, later became a U.S. citizen) |
| Occupation | Entrepreneur, CEO of Tesla & SpaceX, Founder of xAI, Neuralink, The Boring Company |
| Primary Industry | Automotive, Space Exploration, Artificial Intelligence, Renewable Energy |
| Estimated Net Worth | $385–$430 billion (2025, depending on source: Bloomberg vs Forbes) |
| Marital Status | Divorced (previous marriages include Justine Musk, Talulah Riley) |
| Notable Investments | Tesla, SpaceX, xAI, Neuralink, The Boring Company, X (formerly Twitter) |
| Residence | Primarily Texas; also owns properties in California and elsewhere |
| Known For | Founding and leading transformative companies in EVs, space, and AI |
Musk Loses Title Of The World’s Richest Man
Even at the very top of the billionaire rankings, leadership can flip overnight. In September 2025, Oracle co-founder Larry Ellison briefly overtook Elon Musk on Bloomberg’s Billionaires Index after a sharp rally in Oracle’s share price. For a short stretch, Ellison’s fortune—largely tied to his Oracle stake—edged above Musk’s, pushing him into the number one position.
The handover didn’t last long. Within days, Tesla shares rebounded, SpaceX secondary valuations were factored in, and Musk reclaimed the crown. But the episode highlights a key point: when most of a billionaire’s wealth is tied to equity in a single company, market moves can make or break leaderboard status in hours.
It also shows how different wealth trackers can deliver different headlines. On the same week Bloomberg showed Ellison in first place, Forbes’ real-time list still had Musk comfortably ahead. The contrast comes down to timing, methodology, and market input.
5 Important Lessons To Learn From Elon Musk’s Approach To Business
1. Concentration amplifies upside and volatility
Musk’s wealth is concentrated in high-beta tech and space assets. When Tesla soared in late 2024, Forbes’ real-time tally showed his net worth crossing $400 billion; when market narratives shift, the same concentration can unsettle rankings—sometimes within a day. Lesson: concentrated bets can create outsized fortunes, but they also make net worth a moving target.
2. Private-market liquidity is power
SpaceX and xAI demonstrate how private-market secondaries and financings can unlock value without going public. SpaceX’s employee tenders at ever-higher prices helped lift model valuations of Musk’s stake. The catch: valuation is part math, part market mood—so serious wealth trackers apply discounts. Lesson: for founders, private liquidity programs can be strategic—but they add modeling uncertainty.
3. Incentives drive focus (and controversy)
Tesla’s 2018 package, its court fight, the 2024 ratification push, and the proposed 2025 award that stretches to an $8.5 trillion market cap show how boards can set moon-shot incentives to retain “founder-CEOs.” Whether you applaud or criticize the scale, the filings make clear how compensation structures can tilt attention and behavior. Lesson: incentives should be transparent, performance-based, and tied to measurable outcomes.
4. Narrative matters—but fundamentals matter more
X’s valuation has zig-zagged as advertisers, product changes, and financing moves waxed and waned. Fidelity’s marks in 2023–2024 implied a steep drop; some 2025 reports suggested improvement. That fluctuation hasn’t been the main driver of Musk’s wealth compared with Tesla and SpaceX. Lesson: the loudest asset isn’t always the largest; focus on fundamental value-creation engines.
5. Methodology matters
Bloomberg and Forbes both publish how they count. Bloomberg explicitly discounts private holdings and applies a “key-person” haircut; Forbes also adjusts private-company stakes but uses different comps and timing. That’s why the same headline—“Elon Musk net worth”—can credibly be two numbers. Lesson: whenever you cite a net-worth figure, include the source and date.
Bottom line
If you’re looking up “Elon Musk net worth” today, give yourself permission to accept a range, not a point: roughly mid-$300 billions to mid-$400 billions in September 2025, depending on the source and day. Pair the number with a date and methodology, and keep an eye on Tesla’s stock and private-market prints for SpaceX and xAI—they’re the dials that move the needle.
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