- Despite chaotic Twitter takeover losses, Elon Musk added nearly $100 billion in 2023 thanks to SpaceX’s and Tesla’s successes.
- His rocket firm hit a $175 billion valuation, and Tesla became the top-selling carmaker globally.
- With high-wire risks ahead still, Musk’s fortune bubble could burst from further unpredictable self-sabotage.
Despite persistent business fiascos, Elon Musk somehow managed to troll and blunder his way to adding nearly $100 billion to his net worth in 2023.
Other ventures make up for X and Tesla
The billionaire courted continuous controversy in his rocky Twitter takeover. He also risked Tesla’s electric vehicle crown. But meteoric share appreciation at his other ventures kept Musk firmly atop rich lists.
Musk overhauled Twitter on a whim, alienating users and marketers alike. His antisemitic tweet tanked partnerships further. And plans to charge for core features could exacerbate the exodus from a platform now likely worth half what Musk paid, per a reported valuation slash.
$200 Billion off his peak fortune
Critics describe the spiraling social network as an ego-driven, irrational distraction. But the debt-fueled deal still helped knock $200 billion off Musk’s peak fortune.
Luckily for the embattled entrepreneur, successes at SpaceX and Tesla eclipsed Twitter’s mess.
His rocket firm may now be worth more than Disney at $175 billion. Meanwhile, Tesla became the planet’s top-selling carmaker in 2022 while tackling new segments with the Cybertruck.
Will the bubble burst?
So despite acknowledged risks from Musk’s unpredictable style, his fortunes keep rising, even as chaos continues.
The bubble could still burst due to precarious balancing acts at his tentpole companies. But after a year of self-sabotage, Musk reinforces his billionaire bona fides while his critics long for comeuppance.
