FX.co ★ Billionaires who got rich thanks to Elon Musk

Larry Ellison

Oracle co-founder Larry Ellison, a longtime admirer of Musk’s projects, has turned his enthusiasm into massive wealth. In 2018, Ellison invested $1 billion in Tesla and joined its board of directors. By 2022, the value of his stake had surged to $4.7 billion. Ellison later supported Musk’s acquisition of Twitter (now X), tossing in another $1 billion. Today, Ellison’s net worth stands at nearly $344 billion, with a significant portion directly tied to the so-called "Musk Effect."

Peter Thiel

With a fortune now estimated at $26 billion, Peter Thiel first crossed paths with Elon Musk in 2000, when their startups, X.com and Confinity, merged to form PayPal. After selling his payments company, Thiel moved into venture capital and became one of the earliest believers in SpaceX, investing through Founders Fund in 2008 when the company was on the verge of collapse. Today, Thiel’s 6% stake in SpaceX is valued at $20 billion, making him one of the biggest beneficiaries of the "Musk Effect."

Leo Koguan

With an estimated net worth of around $9 billion, Leo Koguan has made his fortune as Tesla’s third-largest shareholder. The IT entrepreneur and self-proclaimed “Musk fan” built up his stake in Tesla aggressively, betting on the electric vehicle giant’s rapid rise. However, two years ago, Koguan abruptly changed his tone, calling Elon a “tyrant CEO” and admitting he was no longer prepared to unconditionally back Tesla, despite the billions he earned alongside Musk.

Ronald Baron

Ronald Baron, now worth roughly $6.5 billion, placed his wager on Musk over a decade ago by allocating 40% of his fund’s assets to Tesla shares. That bold move paid off spectacularly: since then, the stock’s value has surged nearly 2,200%. Baron’s funds also hold stakes in SpaceX and xAI, amplifying the effect. As a result, since 2016, Baron’s wealth has more than tripled, making him one of the most loyal and successful investors in Musk’s empire.

Marc Andreessen

Marc Andreessen, with a fortune estimated at $2 billion, has emerged as one of Musk’s new allies. Andreessen Horowitz, his venture capital firm, invested in SpaceX in 2023. By May 2024, the firm had led a $6 billion funding round for xAI, doubling the valuation of both companies. These moves have secured Andreessen's role as a strategic partner, not just an investor, within Musk’s business empire.

Jared Isaacman

Jared Isaacman is a billionaire pilot with a net worth of $1.4 billion. He is famous for having flown twice into space on SpaceX rockets. In 2021, his company, Shift4, invested $28 million in Musk’s venture, a stake now valued at $66 million. Isaacman also held SpaceX shares personally but sold his holdings last year, locking in profits.