Elon Musk Wealth Soars to Highest Level in History, Dangote Gets New Position in World Ranking
- Elon Musk is now the first public figure in history to have a net worth of over $400 billion, according to new data
- Musk's wealth has been on the rise since Donald Trump was elected the 45th President of the United States
- Aliko Dangote, Africa's richest man, has also recorded an increase in his wealth and place on a global rich list
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Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Elon Musk, the world’s richest person, has become the first person to amass a net worth exceeding $400 billion.
Meanwhile, a Nigerian mogul also saw his net worth increase as he ascended the list of the world's richest men.
Source: Getty Images
Data obtained from Bloomberg showed that as of Thursday, December 12, 2024, South African-born mogul Musk's net worth stood at $447 billion after gaining $62.2 billion in just 24 hours.
For context, Nigeria's 2024 budget is N28.7 trillion. This was approximately $33.4 billion when passed but is now worth $18.53 billion according to the latest exchange rate information.
Musk leads the world's richest list
Musk's net worth, attributed to his companies Tesla, SpaceX, and xAI, cemented his position as the wealthiest individual ever tracked, placing him $200 billion ahead of his closest rival, Amazon's Jeff Bezos.
Below is the list of the top 10 richest men in the world:
10 richest men in the world
- Elon Musk - $447 billion
- Jeff Bezos - $249bil
- Mark Zuckerberg - $224bil
- Larry Ellison - $198bil
- Bernard Arnault - $181bil
- Larry Page - $174bil
- Bill Gates - $165bil
- Sergey Brin - $163bil
- Steve Ballmer - $155bil
- Warren Buffett - $144bil.
Aliko Dangote remains Africa's richest man
It was not only Elon Musk that recorded an increase in wealth. Aliko Dangote's net worth also improved.
According to Bloomberg, the net worth of Africa's richest man rose by $68.5 million (N106.05bil) in a day.
This has helped Dangote ascend to the 68th position on the ranking of the world's 500 wealthiest men.
South African billionaire Johann Rupert is the second-richest in Africa, with a net worth of $13.9bil.
Dangote wealth rises by N3bil
Legit.ng earlier reported that Nigerian billionaire Aliko Dangote made $2.32 million, or N3.90 billion, on November 25, 2024.
According to the Bloomberg Billionaires Index, his new wealth helped push rise two places in the world’s billionaire rankings.
Dangote's net worth has increased by $13 billion in 2024, cementing his place as the richest man on the African continent.
Proofread by Kola Muhammed, journalist and copyeditor at Legit.ng
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