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Elon Musk hits ‘historic first’: $400 billion net worth rocketed by $50 billion SpaceX share sale
Livemint
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7m ago
Medial
While the plans are at an early stage, the company has engaged consultants to explore the financial viability of such an expansion, according to chief executive Jayant Acharya. JSW Steel's falling margins due to a surge in imports may hurt the company's ability to commit capex, he warned.
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Elon Musk now has more money than Mukesh Ambani and Gautam Adani combined
Livemint
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1y ago
Medial
According to the Bloomberg Billionaire's Index, Elon Musk has emerged as the richest person, surpassing Mukesh Ambani and Gautam Adani combined. Musk's net worth is reported to be $204 billion, while Ambani has a net worth of $108 billion and Adani has a net worth of $95.9 billion. This development comes after Bernard Arnault briefly overtook Musk as the richest person. Elon Musk recently announced the successful implantation of a brain chip by his company, Neuralink.
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Jeff Bezos just sold off $2 billion in Amazon shares in what could be a strategy to make him the richest man in the world — again
Business Insider
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1y ago
Medial
Jeff Bezos has sold 12 million shares of Amazon stock, worth $2 billion, in a move that could potentially make him the world's richest man again. This is part of a plan announced by Amazon earlier this year for Bezos to sell off 50 million shares. The surge in Amazon's stock this year has increased Bezos' estimated wealth by $22.6 billion. The sale also narrows the gap between Bezos and Elon Musk's net worth, making it possible for Bezos to overtake Musk and reclaim the title of the world's richest person.
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Richest man in the world now $7 billion richer. Windfall from US election rockets Elon Musk’s worth to $334.3 billion | Company Business News
Livemint
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7m ago
Medial
Tesla CEO Elon Musk has increased his wealth by $80 billion, making him the richest person in the world, surpassing Oracle chairman Larry Ellison, according to Forbes. With a net worth of $334.3 billion, Musk's fortune is primarily derived from his stakes in Tesla and SpaceX, amounting to 13% and 42% respectively. He also has investments in other companies such as Neuralink, The Boring Company, and xAI. Musk's support for President-elect Donald Trump and the subsequent market response following the US election results further contributed to his financial success. Additionally, Musk's AI company, xAI, is now valued at $50 billion.
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Elon Musk borrowed $1 billion from SpaceX in same month of Twitter deal: report
Economic Times
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1y ago
Medial
Elon Musk secured a $1 billion loan from SpaceX, using his SpaceX stock as collateral, around the time of acquiring Twitter (now X) for $44 billion. Musk's extensive holdings allow him to leverage assets for loans, while privately held SpaceX has served as his lender. Musk's financial moves, including selling Tesla shares worth $40 billion, have drawn attention and scrutiny. SpaceX had $4.7 billion in cash and securities in 2022. Both SpaceX and X declined to comment.
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Elon Musk alleges Jeff Bezos told people to sell Tesla, SpaceX stocks; Bezos denies in rare X post, says ‘100% not true’
Livemint
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7m ago
Medial
Elon Musk accused Jeff Bezos of advising people to sell their Tesla and SpaceX stock, claiming that Donald Trump would lose the US presidential election. Bezos swiftly denied the allegations, calling them "100% not true." Musk is a vocal Trump supporter and has spent over $130 million supporting his re-election campaign. This exchange highlights the tensions between two of the world's richest individuals and the interplay between politics and business in the tech world. Musk recently became the richest person in history with a net worth of $334.3 billion.
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Meet some of the obscurer billionaires who got much, much richer in 2023
Business Insider
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1y ago
Medial
Indonesian business mogul Prajogo Pangestu saw his wealth grow seven-fold this year, reaching an estimated fortune of $31.9 billion. Alongside other well-known billionaires like Elon Musk and Mark Zuckerberg, there were also lesser-known individuals who experienced significant wealth increases in 2023. Brian Armstrong, CEO of Coinbase, saw his wealth grow over 400% to $7.7 billion. Judy Love, co-founder of Love's Travel Stops & Country Stores, saw her net worth rise from under $4 billion to $13.2 billion. Jensen Huang, CEO of Nvidia, saw his wealth increase by around $30 billion, reaching $44 billion. Changpeng Zhao, founder of Binance, experienced a nearly three-fold increase in wealth, with an estimated net worth of $37.4 billion.
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Elon Musk’s feud with Trump spurs one of his worst wealth losses ever
Economic Times
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1m ago
Medial
Elon Musk's online feud with President Donald Trump resulted in a $34 billion loss from his net worth, marking the second-largest loss in Bloomberg Billionaires Index history. The conflict stemmed from Musk's opposition to Trump's signature bill, jeopardizing Musk's companies like Tesla and SpaceX, which rely on government contracts. Despite setbacks, Musk remains the world's richest person. The feud raises concerns for Tesla's future and Musk's other ventures amid potential political and financial repercussions.
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Elon Musk trolled his way through 2023. He's still ending the year $100 billion up.
Business Insider
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1y ago
Medial
Elon Musk has faced numerous challenges and controversies in 2023, including driving X (formerly Twitter) into the ground and the possibility of Tesla being overtaken by its Chinese competitor, BYD. Despite these setbacks, Musk's net worth has increased by almost $100 billion this year, making him the world's richest person. The success of his other companies, such as SpaceX and Tesla, has contributed to his wealth growth. However, Musk's unpredictable behavior remains a concern for some observers.
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Elon Musk companies may add over $220 billion in combined value after new funding rounds: Report | Company Business News
Livemint
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4m ago
Medial
Elon Musk’s companies, including Tesla, SpaceX, and xAI, have significantly increased in value since the US presidential election, with a combined $613 billion surge. Tesla's stock has dropped about 25% from its peak but still holds strong on valuation. SpaceX became the most valuable tech startup, while xAI almost doubled its valuation. New funding rounds may add over $220 billion to Musk's private companies, potentially raising his net worth to over $420 billion.
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Jeff Bezos suffers big jolt, loses world's second richest man title after 8 years. Who overtook him?
Economic Times
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28d ago
Medial
Larry Ellison of Oracle has overtaken Jeff Bezos to become the second richest person in the world. Ellison's net worth soared by $26 billion to $243 billion after Oracle reported stronger-than-expected earnings, surpassing Bezos and Mark Zuckerberg. Bezos first became the second richest in 2017 but lost the title to Zuckerberg in 2024. Currently, Elon Musk maintains the top position with a net worth of $407 billion.
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