Last year, Elon Musk teetered back and forth with Jeff Bezos for the title of the richest person in the world. One day it was Musk, the next it was Bezos and sometimes the gap between them seemed razor-thin. But today, there's no contest. Musk's fortune has skyrocketed to an eye-watering $486 billion, leaving Bezos far behind at $233.5 billion – a staggering $237 billion gap, according to Fortune. It's not just the largest gap in their rivalry – it's the largest gap ever recorded between the two wealth titans.
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But how did Musk leave Bezos in the dust? Sure, Tesla and SpaceX are booming, but this story is about more than electric cars and space rockets. It's about timing, politics and Musk's surprising new alliance with President-elect Donald Trump – a relationship that's turning heads and raising eyebrows.
Musk wasn't always a Trump supporter. In fact, during Trump's first presidency, he was openly critical of the administration. But as the 2024 election drew closer, Musk's stance shifted. According to a November BBC article, Musk described himself as "politically moderate" but said he felt compelled to back Trump, citing concerns about the economy, immigration and free speech under another Democratic presidency.
Musk didn't just voice his support; he poured money and influence into Trump's campaign. He donated $119 million to a pro-Trump Super PAC and launched an ambitious get-out-the-vote effort in battleground states, offering $1 million in giveaways to voters every day leading up to Election Day. Initially challenged in court, the giveaways ultimately went forward and dominated headlines.
For Musk, this wasn't just about politics – it was about positioning himself for the future. His bet paid off in a big way. Emboldened by Trump's pro-business policies, investors flocked to Musk's companies. According to CNBC, Tesla stock surged 69% after Trump's victory, with Wall Street rallying behind Trump's promises to support autonomous vehicles and electric car adoption. Similarly, SpaceX saw its valuation balloon to $350 billion as confidence grew that Trump's administration would prioritize defense contracts and private space exploration – both areas where SpaceX reigns supreme.
Beyond Wall Street, Musk's influence is also growing in Washington. Trump has already tapped him to cochair the newly created "Department of Government Efficiency" (DOGE), giving Musk a hand in shaping federal policies. Supporters hail the move as a win for innovation, arguing Musk's business savvy could bring much-needed change to outdated government systems. Critics, however, see it as dangerous, warning that Musk's dual role as a billionaire business owner and policymaker could lead to conflicts of interest and unchecked power.
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While Musk's wealth has soared, Bezos seems stuck in neutral. According to Forbes, with a net worth of $233.5 billion, Bezos is still the second-richest person in the world, but the gap between him and Musk has never been wider. Bezos says he is fine with being second and has never set out to be the richest man in the world, as he explained back in 2018 when he was asked about this title at the Economic Club of Washington.
Musk's rise isn't just a story about money – it's about power. With his newfound political alliance and a fortune that dwarfs everyone else's, Musk is reshaping what it means to be a billionaire in America. Supporters view him as a visionary, using his resources to tackle humanity's biggest challenges. Critics, however, worry about the risks of concentrating so much wealth and influence in one person's hands.
For now, though, one thing is clear: Musk isn't just dominating the wealth race – he's rewriting the rules entirely. Bezos may still be a titan, but Musk is on a trajectory that's out of this world and his friendship with Trump might just be the fuel propelling him to unprecedented heights.
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