Elon Musk becomes the first person to surpass $400 billion net worth

Elon Musk has once again made global headlines by becoming the first person in history to achieve a net worth exceeding $400 billion, according to the Bloomberg Billionaires Index. This milestone follows a significant insider share sale at SpaceX, Musk’s pioneering aerospace company, which added approximately $50 billion to his wealth. As of December 2024, Bloomberg estimates Musk’s net worth at $447 billion, marking substantial growth since the U.S. Presidential elections last month. Musk, CEO of Tesla and SpaceX, continues to revolutionize the automotive, aerospace, and renewable energy industries through his innovative ventures.

Bloomberg Billionaires Index 2024: Top Five

1. Elon Musk ($447 billion)

Elon Musk leads the Bloomberg Billionaires Index as the world’s richest individual. As the CEO of Tesla and SpaceX, Musk has redefined the future of transportation and space exploration. Tesla’s dominance in the electric vehicle market has set new standards for sustainability in the automotive industry, while SpaceX continues to achieve groundbreaking feats in space travel, including reusable rockets and plans for Mars colonization. Musk’s other ventures, such as Neuralink and The Boring Company, focus on merging technology with human capability, further solidifying his status as a forward-thinking entrepreneur driving global innovation.

2. Jeff Bezos ($249 billion)

Amazon founder Jeff Bezos ranks second on the Bloomberg Billionaires Index with a net worth of $249 billion. Bezos transformed retail by creating Amazon, the world’s largest e-commerce platform while revolutionizing cloud computing through Amazon Web Services (AWS). His ventures now extend beyond Earth with Blue Origin, a space exploration company focused on enabling private space travel and building a future where millions live and work in space. Bezos’ strategic investments in tech, media, and sustainability continue to diversify his portfolio, underscoring his long-term vision for innovation and human advancement.

3. Mark Zuckerberg ($224 billion)

Mark Zuckerberg, co-founder and CEO of Meta Platforms, holds the third spot with a net worth of $224 billion. Zuckerberg’s leadership has transformed Facebook into Meta, a tech giant that connects billions of people worldwide through Facebook, Instagram, and WhatsApp. Meta is now at the forefront of developing the metaverse, a virtual reality space poised to redefine social interaction, work, and entertainment. Under Zuckerberg’s vision, Meta continues to invest heavily in artificial intelligence, augmented reality, and immersive technologies, ensuring the company’s sustained influence in the digital age.

4. Larry Ellison ($198 billion)

Oracle co-founder Larry Ellison ranks fourth on the Bloomberg Billionaires Index with a net worth of $198 billion. A pioneer in database software and cloud computing, Ellison built Oracle into a global technology leader serving businesses worldwide. Known for his sharp business acumen, Ellison has overseen Oracle’s transition into cloud-based solutions, catering to enterprise needs in an increasingly digital economy. Beyond Oracle, Ellison has invested in healthcare, technology startups, and real estate, including his ownership of the Hawaiian island of Lanai, reflecting his diverse interests and entrepreneurial foresight.

5. Bernard Arnault ($181 billion)

Rounding out the top five is Bernard Arnault, chairman and CEO of LVMH, with a net worth of $181 billion. Arnault oversees the world’s largest luxury goods conglomerate, which includes iconic brands like Louis Vuitton, Dior, and Moët Hennessy. Under his leadership, LVMH has dominated the global luxury market by blending tradition with innovation, appealing to high-end consumers worldwide. Arnault’s strategic acquisitions, including Tiffany & Co., have solidified LVMH’s position as a leader in fashion, accessories, and fine jewellery, making him a key figure in the global luxury industry.

The Bloomberg Billionaires Index highlights the staggering wealth and global influence of these industry leaders as they continue to shape technology, commerce, and consumer lifestyles across the world.