Elon Musk’s Rocky Net Worth Over the Past 10 Years
In the last decade, Elon Musk became one of the richest people in the world. But how did the co-founder of Tesla and SpaceX make his billions?
Some consider Musk a savvy businessman, while others think he’s a controversial figure. Musk’s journey in building his net worth is one that’s made headlines. The billionaire’s actions affecting his net worth have been praised and also criticized.
Forbes looks at the rise and fall of Elon Musk’s net worth over the past 10 years. You might be surprised to learn when Musk’s wealth was at its highest and where it currently is now.
Tracking Musk’s Financial Rise
Forbes tracks Musk’s net worth, detailing his net worth each year. To determine his net worth, Forbes take into account changes in stock prices, Musk’s business dealings, and revenue from the companies he’s involved in.
Given the many changing variables, Forbes also has an up-to-date list of billionaires that changes from time to time. According to their 2024 list, Bernard Arnault, the owner of popular glamor brands including Sephora, is the richest person in the world, with Elon Musk trailing behind by over $30 billion.
But this article isn’t about Arnault. Without further ado, this is how Elon Musk’s net worth has changed since 2015.
Billionaire’s Wealth Surge
2021 was a huge year for Elon Musk, as his wealth surged 78% during that time. That same year he was crowned the richest person alive. His rising net worth is attributed to his earnings from Tesla, where he’s the CEO.
Musk is also noted as the co-founder of Tesla. The company rose an amazing 695% in 2020. In 2024, Tesla ranked number 12 on the list of companies with the most valuable companies in the world, with a market capitalization of $554 billion. Microsoft, meanwhile, is the most valuable company in the world with $2.89 trillion.
Total Net Worth Declines
Some business decisions Elon Musk has made over the last decade have affected his net worth negatively. In particular, in 2022 after buying the social media platform Twitter, Musk’s net worth dropped $9 billion. He had to personally pay approximately $25 billion as part of the social media company’s acquisition.
Tesla’s dropping stock prices also has an impact on Musk’s wealth because of his ownership of the company. As of early April, the stock price of the automotive and clean energy company fell an estimated 25% in 2024, making it one of the worst-performing stocks in the S&P 500 at that time.
Musk’s Wealth Origins
Before he made enough earnings to be one of the richest people in the world, Elon Musk started his career by founding tech companies in the 1990s with the help of his father’s revenues from an emerald mine in Zambia. According to Musk, the emerald mine was so successful he had to carry loose emeralds in his pocket when he traveled to New York City.
In 1999, Musk founded an online financial payment company that would later become PayPal, which was bought by eBay. Since Musk was a major stakeholder in the company, he made over $100 million as part of the deal even though he was replaced as CEO of the company.
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