WASHINGTON (AP) — Elon Musk, the founder of Tesla, topped Forbes’ list of the 400 wealthiest persons in the United States on Tuesday, significantly outstripping the country’s second-wealthiest person.
The magazine projected Musk’s net worth to be more than USD251 billion, much above that of Amazon founder Jeff Bezos. According to Forbes, the ex-Amazon CEO is worth over USD151 billion.
Musk’s fortune has increased by USD60.5 billion since 2021, when the globe began to recover from the coronavirus outbreak, setting a new record for the Forbes list.
The majority of Musk’s fortune stems from Tesla, the manufacturer he co-founded and continues to oversee. Musk owns roughly one-quarter of the corporation, and much of the rest of his net worth can be ascribed to SpaceX, which has doubled in value in the last three years, according to Forbes.
Musk’s net worth has surpassed USD300 billion twice in the last year, owing mostly to price changes in Tesla stock.
Bezos now owns little less than 10% of Amazon.
After dropping off the list in 2021, former US President Donald Trump resurfaced this year in 343rd place, with an estimated net worth of USD3.2 billion. Trump has been boosted by the recent debut of his Trump Media and Technology Group, as well as its main Twitter competitor, Truth Social.
According to Forbes, Trump’s sale of his previous namesake hotel in Washington, D.C. further boosted his finances, allowing him to repay a debt from Deutsche Bank and around USD135 million.
However, the Trump Organization’s New York City real estate holdings have been harmed by the Covid-19 outbreak and have been the subject of a state probe turned lawsuit against the former commander-in-chief.