Musk's wealth increased to $335 billion after Tesla stock jumped 9%, making him the world's richest person. His acquisition of Twitter in 2022 for $44 billion and subsequent changes to the platform, including reinstating banned accounts and introducing a new verification system, have kept him in the spotlight. His other ventures include Neuralink, which is developing a brain chip to treat neurological conditions, and xAI, a rival to OpenAI, which is reportedly seeking funding at a $40 billion valuation.
Key takeaways:
- Elon Musk has been appointed to co-lead the unofficial Department of Government Efficiency in the Trump administration, alongside entrepreneur Vivek Ramaswamy.
- Musk is also the CEO of Tesla, SpaceX, Neuralink, and AI startup xAI, and he owns and plays a significant role in running X, formerly known as Twitter.
- The Department of Government Efficiency aims to slash excess regulations, cut wasteful expenditures, and restructure Federal Agencies, with an entrepreneurial approach to Government.
- In 2022, Musk acquired Twitter for $44 billion, renaming it to X and making significant changes to the platform, including reinstating banned accounts and making likes private.