According to BlockBeats news, on August 5, Musk's role as head of the 'Government Efficiency Department' seems to have had a bigger impact on his wealth than expected. According to the Bloomberg Billionaires Index, Musk's wealth has shrunk by more than $75 billion this year, with his net worth falling to about $357 billion, far below the peak of over $450 billion by the end of 2024.
The decline is mainly due to the performance of his 13% stake in Tesla. Tesla's stock price has fallen nearly 20% this year. Musk's lead as the world's richest person has been eroded by competitors: Oracle founder Larry Ellison and Meta CEO Mark Zuckerberg are closing in. Currently, the gap in wealth between Musk and Ellison is only about $54 billion.
Oracle has experienced explosive growth thanks to its AI strategy and cloud computing business, with its stock price rising over 50% this year, leading to a rapid increase in Ellison's wealth. If this trend continues, Musk is very likely to lose the title of the world's richest person before the end of the year. (Jinshi)