As Elon Musk is once again making headlines by reportedly becoming the first person in history to reach a net worth of $400 billion, I am reaching out with our latest report, which reveals the billionaires whose net worth increased the most over the past year and the companies that helped them build their massive fortunes.
The team at BestBrokers analysed the changes in billionaires’ wealth from November 13, 2023, to November 13, 2024, using the Forbes Real-Time Billionaires List.
We accessed the same list from last year via The Internet Archive and then searched through SEC’s Electronic Data Gathering, Analysis, and Retrieval (EDGAR) system for individual and company filings, annual reports, and proxy statements to track stock transactions throughout the year.
We discovered that Elon Musk became 38.61% wealthier within a year. He increased his net worth by $86 billion between November 13, 2023, and November 13, 2024, reaching $310.20 billion.
Just a few weeks after the announcement of Musk’s position in the coming presidential administration, the valuation of his company SpaceX soared to $350 billion in a secondary share sale. As a result, as of December 16, Musk ranks 1st on the Forbes Real-Time Billionaires List with a net worth of $439.4 billion, up nearly $130 billion compared to just one month ago.
His wealth is, of course, subject to change since it is based on the fluctuating prices of the company stocks he owns. Interestingly, the SpaceX and Tesla owner is not the billionaire whose net worth saw the most significant increase since last year. Binance founder and former CEO Changpeng Zhao saw his net worth surge by 518.6% between November 2023 and November 2024.
For further insights, please refer to the full report.
