Elon Musk's Net Worth Tops $100 Billion For The First Time

Publish date: 2024-06-21

If you went back 21 days, there would only be two people on the planet with a net worth north of $100 billion. Those two people would have been Jeff Bezos and Bill Gates. Fast forward three weeks and there are now FOUR members of the centibillionaire club: Jeff Bezos, Bill Gates, Mark Zuckerberg and (as you probably guessed based on the title of this article) Elon Musk.

Mark Zuckerberg's net worth topped $100 billion for the first time on August 7, 2020. He achieved that insane level of wealth thanks to Facebook's stock hitting what was then an all-time high of $272 per share. Mark owns 13% of Facebook's outstanding shares. Fast forward three weeks and FB is now trading at $304 a share, giving Mark an all-time high personal net worth of $115 billion. His net worth has increased $36 billion since January 1.

Elon Musk joined the centibillionaire's club today for the first time. He ended the day with a net worth of $101 billion. That's up $2 billion from the day before thanks to Tesla stock closing this afternoon at an all-time high of $2,153.

Incredibly, Elon Musk's net worth has increased $73 billion since the beginning of 2020. Look at this 5-year Tesla stock chart:

As you can see, five years ago a single share of Tesla would set you back $248. Today that same share would cost $2,153.

But keep in mind, Tesla is not the only source of Elon's wealth.

When evaluating Elon Musk's net worth, it's important to remember that it's comprised of his stakes in both Tesla – which is publicly traded – AND SpaceX – which is still a privately-held company.

Elon owns 20% of Tesla's outstanding shares. Thanks to today's all-time high stock closing price of $2,153, Tesla's market cap topped $400 billion for the first time. Tesla now has a larger market cap than the following companies:

Tesla is worth more than Coca-Cola and Nike COMBINED. Tesla is worth more than McDonald's and Chevron with $100 billion leftover to buy Zoom and SnapChat.

BEVERLY HILLS, CA - FEBRUARY 22: CEO of Tesla and Space X Elon Musk attends the 2015 Vanity Fair Oscar Party hosted by Graydon Carter at Wallis Annenberg Center for the Performing Arts on February 22, 2015 in Beverly Hills, California.

(Photo by Pascal Le Segretain/Getty Images)

And then there's SpaceX.

A month ago, Elon owned 54% of the privately-held SpaceX. And at that point SpaceX had a private market valuation of $36 billion thanks to a fundraising round in February 2020.

On August 19, 2020 SpaceX confirmed through an SEC filing that it had raised a new round of funds at a $46 billion valuation. This round reduced Elon's ownership stake in SpaceX to 48%.

At a $46 billion private-valuation, Elon's SpaceX 48% stake is worth $22 billion.

At a $400 billion market cap, Elon's Tesla stake is worth $80 billion.

After removing roughly $1.5 billion in various personal debts and obligations, Elon's net worth at the above respective levels is $101 billion.

Insane.

Congrats Elon!

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