The irresistible rise of Elon Musk continues and it takes a new turn following the victory of Donald Trump. The return to the White House of his political ally has just enabled him to consolidate his status as the richest man in the world… and now in History. According to the‘indice Bloombergthe South African multi-billionaire now weighs $348 billion. It is doing better than its record of $338 billion dating from November 2021, taking full advantage of the election of Donald Trump.
Indeed, Elon Musk has seen his fortune explode in recent weeks. It far exceeds Jeff Bezos ($219 billion), Oracle’s Larry Ellison ($206 billion) and Mark Zuckerberg ($198 billion). He even eclipses Bernad Arnault, whose assets have melted over the past year ($163 billion), by being twice as rich as the majority shareholder and CEO of the luxury group LVMH.
With such a fortune, Elon Musk is doing better than contemporary billionaires and those in history like John Rockefeller. The site BFMTV reports that Rockefeller’s fortune, adjusted for inflation, would be worth $336 billion today, about $12 billion less than Elon Musk currently has. The boss of Tesla and SpaceX therefore writes his name in history as the richest man ever recorded and his wealth could still increase.
A jackpot without a monopoly, this is Elon Musk’s great success
The most impressive thing is undoubtedly that the previous great fortunes in history are all linked to monopolies, like Rockefeller (energy) or Henry Ford (automobile). The Tesla brand, whose performance directly impacts Elon Musk’s wealth, is in a dominant position in the electric vehicle market. However, it does not have a monopoly comparable to that of the industrial giants of the time. Tesla’s electric car market share in the United States is 48%, but the manufacturer only represents 10% of total car sales.
This meteoric progression is also the result of the support shown and its massive investments in Donald Trump’s campaign. The audacious bet to make him a political ally is paying off, allowing Elon Musk’s fortune to jump in just a few hours following the ex-president’s victory. The big winner of this election, Elon Musk will even play an important role within the government, with the mission of “dismantle government bureaucracy”. He will be at the head of a new “department of government effectiveness”he who is renowned for his harsh management.
On X (formerly Twitter), the social network he bought for $44 billion, he recently admitted having laid off 80% of the workforce since his takeover in October 2022. In addition to an image as a visionary entrepreneur and the richest man of all time, Elon Musk could now become a very influential political actor.
Source: www.journaldugeek.com
