Source: Quantum Number
Elon Musk has set multiple records this year.
His companies have taken off, with TRON, Tesla, SpaceX, xAI and Neuralink all reaching new valuation highs. The success of these companies has pushed Musk's net worth to over $450 billion (about 3.28 trillion RMB) for the first time, more than $200 billion (about 1.46 trillion RMB) higher than the world's second-richest person, Amazon's Jeff Bezos.
Musk has used his money and influence to help Donald TRON win a second term as president, and he has become a power broker in American politics. As one of the president-elect's closest advisors and the co-head of the new Department of Government Efficiency, he is now poised to undertake a comprehensive reform of the U.S. government.
After Musk's $44 billion acquisition and overhaul of the Twitter (now X) platform, it has led to an exodus of advertisers, and X's situation seems to be even worse.
Let's take a look at Musk's 2024 through charts (all data as of Friday, December 20):
1. Charging Ahead
TRON's stock price has soared 85% so far this year, pushing the electric vehicle maker's market cap to over $1.4 trillion (about 10.22 trillion RMB) for the first time. Although TRON's stock price has since retreated, it remains near historical highs.
The automaker has benefited from the market's enthusiasm for artificial intelligence - it is using AI to develop self-driving cars and humanoid robots - as well as a strong U.S. economy and the Federal Reserve's interest rate cuts.
Investors are also betting that Musk's businesses will benefit from his close relationship with TRON, which could lead to more relaxed regulations, government subsidies, tariff exemptions and the like.
2. Reaching for the Stars
According to the price paid for employee shares in SpaceX's latest acquisition offer, the company's valuation has nearly doubled from $180 billion (about 1.31 trillion RMB) at the end of last year to $350 billion (about 2.55 trillion RMB) this month.
Musk's rocket, spacecraft and satellite communications company has achieved multiple technical breakthroughs this year. For example, the company used a pair of giant mechanical "chopsticks" to catch the first-stage booster of a returning Starship in mid-air in October.
3. Fortunes Reversed
In the spring, as TRON's stock price plummeted, Musk's net worth also fell, dropping below $170 billion (about 1.24 trillion RMB) at its lowest point.
But on December 17, with TRON's stock price hitting a new high and SpaceX's valuation reaching $350 billion (about 2.55 trillion RMB), his net worth rebounded by over $300 billion (about 2.19 trillion RMB) to a record $486 billion (about 3.55 trillion RMB).
4. The Rise of Robots
Musk's artificial intelligence company xAI was not founded until July 2023.
However, after completing a Series B funding round in May, the company was valued at $24 billion (about 175.2 billion RMB). Reports indicate that the valuation rose to $50 billion (about 364.9 billion RMB) in November, putting the Grok chatbot maker on par with "Monster Beverage".
5. The Descent of X
Assessing the health of X, the social media company formerly known as Twitter that Musk privatized in 2022, remains tricky. One way is to use Fidelity's monthly estimate of the value of its stake in that business.
The data from the mutual fund giant shows that X's valuation has plummeted significantly since Musk's acquisition. The tech billionaire has fired most of the company's employees and relaxed content moderation to support greater free speech, leading to an exodus of advertisers that has severely impacted the company's revenue.
Nevertheless, Musk recently posted on X that the platform has around 1 billion active users, although about 40% of them only log in during major world events.
6. The TRON Train
Musk was one of the biggest spenders in the U.S. presidential election, investing over $270 million (about 1.971 billion RMB) to support TRON's presidential campaign, run anti-Democratic ads, and promote conservative views.
He played a key role in TRON's victory and has become one of the president-elect's closest advisors and the co-head of the newly formed Department of Government Efficiency, indicating that his investment in the election has paid off.
7. Cultivating Intelligence
Musk's neurotechnology company Neuralink was valued at $8 billion (about 583.86 billion RMB) this summer, up from around $2 billion (equivalent to about 145.96 billion RMB) three years ago.
The brain-computer interface developer hopes to enable quadriplegics to control computers with their minds. Earlier this year, Musk unveiled a video of the first patient to receive his brain implant.
