Elon Musk’s Net Worth Shrinks by $75 Billion This Year, World’s Richest Title May Change Hands
According to a report by Jinse Finance, Elon Musk’s role as head of the “Department of Government Efficiency” appears to have taken a greater toll on his wealth than expected. Citing the Bloomberg Billionaires Index, Musk’s fortune has shrunk by more than $75 billion so far this year, with his net worth dropping to around $357 billion—well below the peak of over $450 billion at the end of 2024. The decline is mainly due to the performance of his 13% stake in Tesla, whose share price has fallen nearly 20% this year. Musk’s lead as the world’s richest person is being eroded by rivals: Oracle founder Larry Ellison and Meta CEO Mark Zuckerberg are closing in. Currently, the gap between Musk and Ellison’s net worth is only about $54 billion. Oracle has seen explosive growth thanks to its AI strategy and cloud computing business, with its stock price surging more than 50% this year, rapidly boosting Ellison’s wealth. If this trend continues, Musk is highly likely to lose his title as the world’s richest person before the end of the year. (Jin10)
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