Billionaire Elon Musk is $100 billion richer thanks to Tesla shares, owning assets larger than the two empires of McDonald’s and Pepsi

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Tesla’s CEO has gone from losing the most wealth in the world this year to gaining the fourth-fastest.

Billionaire Elon Musk is on a growth trajectory after a difficult start to the year.

The Tesla CEO’s net worth has plummeted from $229 billion at the beginning of January to $164 billion at the end of April, according to Business Insider. The $65 billion drop was due to Tesla’s stock falling more than 40% during that period.

However, the electric carmaker’s stock has rebounded, jumping more than 80% from its April low, helping Musk’s fortune increase by $100 billion to $270 billion last week.

That figure includes an increase of nearly $50 billion since August 7, when Musk’s fortune was estimated at $223 billion.

Elon Musk. Photo: BI

From the position of the billionaire who lost the most assets in the world in 2024, Musk has risen to become the person with the fourth largest increase in assets with an increase of 41 billion USD – only behind Meta CEO Mark Zuckerberg, Nvidia CEO Jensen Huang and Oracle co-founder Larry Ellison.

Tesla CEO is still the richest person on the planet with a fortune worth 270 billion USD – a value even greater than business tycoons like Salesforce ($262 billion), Pepsi ($233 billion) or McDonald’s ($216 billion).

It’s worth noting that Musk used to be much richer. In November 2021, he was worth a staggering $340 billion. But Tesla shares have fallen nearly 40% since then, leaving him about $70 billion richer than he was at his peak.