December 12th 2024.
Elon Musk has recently been named the world's richest man, with a net worth of a staggering $400 billion. This monumental increase in wealth has been attributed to a deal made by his company, SpaceX, which has solidified his position at the top, according to Bloomberg. In just the last month, Musk's net worth has skyrocketed by $136 billion due to a $1.25 billion insider share purchase by SpaceX and its investors. The company has been hailed as the most valuable private startup in the world, while Musk's AI business, xAI, has also seen success with a reported worth of $50 billion, as reported by the Wall Street Journal.
One of the factors contributing to Musk's incredible financial success is his alliance with former President Donald Trump during the 2024 Presidential Election. Another one of his companies, Tesla, has experienced what is being called a "Trump bump" after Trump's victory over Kamala Harris. Since election day, the company's shares have climbed by over 50%. This has added to Musk's already impressive wealth, making him over $140 billion richer than the world's second wealthiest man, Jeff Bezos, with a reported net worth of $243 billion, according to Forbes.
Speaking of Forbes, their list of the world's richest people places Musk at the top with $374.9 billion, followed by Bezos at $243.7 billion, and then Larry Ellison, CEO of software giant Oracle, at $223.4 billion. Mark Zuckerburg and Bernard Arnault round out the top five with $218.6 billion and $171.5 billion respectively. But how do these modern-day billionaires compare to the wealthiest people in history? According to Money Inc., here are the top five richest people of all time.
John D. Rockefeller, founder of the Standard Oil Company, is estimated to have been worth a staggering $674 billion at the peak of his wealth in 1937. This American businessman was a pioneer in the oil industry, with his company controlling 90% of oil production in America by 1880. Genghis Khan, the creator of the Mongol Empire, is said to have been worth $2.1 trillion, with a vast fortune consisting of stones, diamonds, and 270,000 horses. His empire spanned countries such as China, Syria, and even the Middle East.
In the 1500s, Akbar, ruler of India through the Mughal Empire, commissioned the building of the famous Taj Mahal and was worth a reported $3.8 trillion. His empire accounted for one-fourth of the global GDP at the time. Emperor Shenzong, leader of the Chinese Empire from 1048-1085, was worth an estimated $4 trillion. His wealth was derived from tax collection and technological innovations, with Chinese technology being far ahead of its European counterparts during that period.
But the richest man in history is believed to be Mansa Musa, former king of Mali, with an incomprehensible wealth of $4.6 trillion. Mali was a wealthy country, rich in land, salt, and gold. Musa is famous for his extravagant pilgrimage to Mecca, which was accompanied by 60,000 men. During his reign, Mali was the largest gold producer in the world, solidifying Musa's place as the wealthiest person in history.
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