Elon Musk is the richest man in the world and recently became one of the most powerful. However, his net worth has dropped by $18 billion this year, according to the Bloomberg billionaire list. That leaves him at $414 billion, which is still well ahead of second place Jeff Bezos, who has a net worth of $255 billion.
One of Musk’s primary holdings is his 20.5% of Tesla Inc. (NASDAQ: TSLA | TSLA Price Prediction), which has a market cap of $1.2 trillion. This is down 6.4% this year. However, in the past year, the stock is 109% higher. Tesla’s value is based partly on its 50% control of the U.S. electric vehicle (EV) market. Another is that Wall Street views Tesla’s self-driving feature as a major advancement in artificial intelligence (AI).
SpaceX virtually controls the U.S. rocket business and is the leader in the industry worldwide. It has established itself as the preeminent rocket launch provider, lofting satellites, cargo, and people to space for NASA, the Pentagon, and commercial partners. It is building out a large network of Starlink satellites that provide internet service.
Musk owns 42% of SpaceX and has 79% of the company’s voting shares. He can make decisions about SpaceX without challenge. SpaceX was recently valued at $350 billion.
Among Musk’s other holdings, the most valuable may eventually be xAI, a major rival to OpenAI in the race to control the future of AI. xAI recently raised $6 billion, which puts its value at $50 billion. Musk owns over half of xAI.
He also owns parts of several other companies, including social media platform X and implantable brain-computer interface operation Neuralink.
Musk is now among the primary deputies to President Trump and has started to reorganize the U.S. government. Investors question whether he can tend to all his companies when he is so busy in this new job.
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