Elon Musks net worth hits staggering $648B, making him more than twice as wealthy as runner-up
Elon Musk’s net worth has hit a staggering $648 billion – making the world’s richest person more than twice as wealthy as the runner-up and worth more than some of the most valuable US companies.Musk saw his wealth jump by $178 billion in just two days, putting his year-to-date gain at a record-breaking $216 billion as investors cheered Tesla’s driverless taxi tests in Texas, according to the Bloomberg Billionaires Index on Wednesday.That means the Tesla and SpaceX founder gained more wealth in just under a year than LVMH Bernard Arnault’s entire fortune – a whopping $205 billion from running the world’s largest luxury goods maker, including brands like Louis Vuitton and TAG Heuer.Even if the $216 billion that Musk earned this year was his entire fortune, he would still be the world’s sixth-richest person – wealthier than Microsoft CEO Steve Ballmer; Nvidia’s Jensen Huang; and Jim, Rob and Alice Walton, heirs of the Walmart fortune.Shares in Tesla closed at an all-time high of $490 on Tuesday after the automaker revealed it has been testing autonomous taxis on Austin, Texas roads – welcome news to investors who have grown concerned the company is not reaching enough milestones in self-driving and robotics.Musk’s 12% stake in Tesla, which is worth roughly $200 billion, helped push his fortune to new heights on Wednesday.Reports that SpaceX has doubled its valuation since the summer to a whopping $800 billion during a secondary share sale also drove the wealth increase. The rocket-launch firm is aiming for an initial public offering in the second half of 2026, according to the Information.It will hold its first meetings with bankers this week in a process known as a “bake off” – a key step before the IPO, which would rank among the largest of all time, according to the Wall Street Journal.The wealth pop made Musk more than twice as wealthy as Alphabet co-founder Larry Page, the second-richest person in the world with a $264 billion net w...