Elon Musk, chief executive officer of Tesla, has made history as the first person ever to amass a net worth of $638 billion, according to the Bloomberg Billionaires Index.
The latest ranking highlights a vast lead for the South African-born American billionaire over the rest of the world’s richest individuals. Bloomberg data show that Musk’s fortune surged by 42.7 percent within a year, between December 2024 and the most recent update.
At $638 billion, Musk’s wealth is more than double that of the second-ranked billionaire, Google co-founder Larry Page, whose net worth stands at $265 billion. Sergey Brin follows closely in third place with $246 billion, while Amazon founder Jeff Bezos ranks fourth at $246 billion.
Oracle chairman Larry Ellison occupies fifth position with $238 billion, ahead of Meta CEO Mark Zuckerberg at $229 billion and luxury goods magnate Bernard Arnault at $202 billion. The top 10 list is completed by former Microsoft CEO Steve Ballmer ($166 billion), Nvidia boss Jensen Huang ($153 billion), and legendary investor Warren Buffett ($152 billion).
Musk had already broken records in December 2024 when he overtook Bezos to become the first individual to surpass the $400 billion mark.
Beyond electric vehicles and space technology, Musk is also expanding his footprint in artificial intelligence. Recently, the founder of xAI announced the launch of Grokipedia, a new online encyclopedia designed to compete with Wikipedia.