Elon Musk, the head of Tesla, SpaceX, and X, has become the wealthiest person in modern history with a staggering net worth of $348 billion. There’s still room to grow before he claims the top spot.
A Rapid Rise Aided by Donald Trump’s Election
Elon Musk’s fortune has reached an unprecedented peak of $348 billion according to the Bloomberg index. This dramatic increase can partly be attributed to Donald Trump’s election as President of the United States. A staunch supporter of the Republican candidate, Musk had invested over $100 million in Trump’s campaign, a political gamble that paid off handsomely. Just hours after the election results were announced, Tesla’s stock prices soared, boosting Musk’s wealth by $15 billion in just one day. By the next day, this figure had climbed to $26 billion—a monumental sum.
Unprecedented Wealth in the Modern Era
In just one year, Elon Musk has accumulated $130 billion, a rate of growth unseen in contemporary history. His wealth now far exceeds that of his closest competitors: Jeff Bezos ($219 billion), Larry Ellison ($206 billion), and Mark Zuckerberg ($198 billion). While this concentration of capital is rare, it still falls short of historical figures. John Rockefeller, adjusted for inflation, would have amassed an equivalent of $336 billion, but more notably, Mansa Moussa, a 14th-century African monarch, is believed to have held up to $400 billion.
Mansa Moussa, also known as Kankou Moussa, was the tenth “mansa” (king of kings) of the Mali Empire, reigning from 1312 to either 1332 or 1337. His immense wealth, largely derived from Mali’s gold mining—estimated between three to four tons annually—is legendary, branding him the richest person of all time. You can learn more about him here.
The Crucial Role of Diversification
Shifting focus back to the modern era and Elon Musk, his strategy isn’t about gold. Instead, it’s based on diversifying his business interests into cutting-edge sectors like electric cars, aerospace, and technology. Unlike magnates of the past who focused on industrial monopolies, Musk is tapping into multiple emerging markets. His close ties with Donald Trump could further boost his influence, especially with his appointment as a sort of Secretary of Government Efficiency. His task: to cut the federal budget by $2 trillion using methods drawn from his entrepreneurial management style.
What are your thoughts on such a level of wealth? Do you think it’s normal and acceptable, or do you believe it raises certain issues and problems? And more importantly, have you bought your next EuroMillions ticket?
