forbes valuation
Musk is the world’s richest person with a fortune estimated at $870.6 billion as of Thursday morning, and his net worth is more than double that of Google co-founder Larry Page ($284.3 billion) and Amazon’s Jeff Bezos ($275.7 billion), who rank the second- and third-richest, respectively. The SpaceX and Tesla CEO became the world’s first trillionaire following the rocket maker’s trading debut in June, and his fortune peaked at an all-time high of $1.45 trillion before plunging SpaceX shares cut Musk’s net worth in half. Musk appeared to acknowledge his declining net worth in a social media post, writing on X last month that he was a “(Former) trillionaire.”
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key background
Tesla shareholders approved a compensation package for Musk last year that features several market capitalization and sales goals. Among the goals is Tesla’s market valuation topping $8.5 trillion within 10 years and the automaker selling 12 million more cars. The pay deal was opposed by some investment groups, including the management firm overseeing Norway’s sovereign wealth fund, which said they were “concerned about the award, dilution and lack of mitigation of key person risk.” He has similar compensation rewards outlined in his SpaceX package, like the firm establishing a “permanent human colony” on Mars with at least 1 million people and SpaceX developing “non-Earth-based” data centers capable of delivering 100 terawatts of compute each year—about 29 times the electricity generated globally in 2023.
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further reading
ForbesEverything SpaceX And Tesla Say Elon Musk Must Do—Mars Colony, Robots, More—For More BillionsBy Ty Roush
ForbesTesla Approves Musk’s Potential Trillion-Dollar PaydayBy Ty Roush and Antonio Pequeño IV