What a difference a day makes. After a year in which Elon Musk’s net worth fell by about $150 billion, the stock market rally pushed his net worth up by $35 billion. That takes his total to $326 billion, extending his lead at the top of the Bloomberg billionaires list. The $35 billion is approximately the same as the entire net worth of Lucas Walton, a member of the family of Walmart founder Sam Walton. Lucas is number 36 on the Bloomberg list.
The increase in Musk’s number is entirely due to the rally in Tesla Inc. (NASDAQ: TSLA | TSLA Price Prediction) shares. The overall stock market rose about 10% due to President Trump’s decision to lower import tariffs on most nations. Among the largest, only China remains with tariffs of 104%. Tesla’s shares rallied 22%, taking the company’s market cap to $875 billion. Before the jump, Tesla’s shares had been down 45% in 2025.
Musk owns 12.8% of Tesla’s shares.
Tesla continues to have challenges. After years of rising, the company delivered 1.789 million vehicles in 2024, down 1.07% from 2023. The problem has worsened this year. In the first quarter, deliveries fell 13% to 336,681. In some EU nations, the percentage drop was higher. Tesla is also losing ground in China, the world’s largest EV market. Local companies, particularly BYD, have hampered its sales. Musk’s relationship with President Trump has also eroded sales.
Musk’s Other Companies
Rockets and AI and more.
Other Musk holdings have probably helped his overall wealth. The largest of these is the most successful rocket maker in the world. 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 providing internet service. Some observers believe Musk’s relationship with President Trump could help him get additional business from the U.S. government.
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 between $40 billion and $50 billion. Musk owns over half of xAI. The valuation of OpenAI recently hit $157 billion.
Musk owns parts of several other companies, including social media platform X and implantable brain-computer interface operation Neuralink.
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