How does Elon Musk's net worth fluctuate between Forbes and Bloomberg rankings?

Also, Bloomberg updates almost hourly based on stock price movements, whereas Forbes typically reports daily or quarterly estimates. This is why you’ll sometimes see Musk listed as the richest person in the world on Bloomberg but not on Forbes at the same time.

Forbes and Bloomberg use slightly different methodologies. Forbes calculates net worth using public and private holdings, while Bloomberg focuses on real-time market prices for public stock and known assets. This means Musk's net worth can appear higher on Bloomberg on a day when Tesla stock spikes, but Forbes might report a slightly lower figure because they smooth out fluctuations. So, it’s normal to see discrepancies of several billion dollars between the two.

The differences between Forbes and Bloomberg rankings for Musk's net worth actually reveal a lot about how these indexes work. Both use slightly different methodologies and update at different times, which can create noticeable gaps. Forbes tends to be more conservative with private company valuations, while Bloomberg might incorporate market movements more rapidly. For Musk specifically, the differences often come down to how they value his private stakes in SpaceX and xAI. During periods of high Tesla volatility, I've seen differences of $10-20 billion between their estimates! It's also about timing - if Tesla stock moves dramatically after market close and one publication updates while the other waits, you get temporary disparities. Generally though, both track pretty closely over time, just with occasional methodological disagreements about specific asset valuations.

The fluctuation is constant, but it's not just the private company valuations; it’s also how each index accounts for unvested options, potential taxes, and debt. Forbes and Bloomberg have different approaches to calculating the liquidity or actual net value of his stock options and potential performance-based grants. Given the sheer size and volatility of Tesla's stock, even a slight difference in their calculation of his effective stake, or the recent closing stock price they use, can translate into a massive dollar difference. It highlights that no one knows his exact net worth—these indices are highly educated, yet constantly changing, estimates.

The short answer is: it fluctuates a lot, and the difference between Forbes' Real-Time Billionaires List and the Bloomberg Billionaires Index can be quite substantial, often tens of billions of dollars, and occasionally even more than $100 billion! The core reason for this divergence lies in the different methodologies used to value his private holdings, primarily SpaceX and xAI. Public company stock (like Tesla) is easy to track, but each outlet uses different models, recent private funding rounds, and their own assumptions to estimate the value of his stakes in the private companies, which make up a huge chunk of his wealth. One index might use a newer, higher valuation for SpaceX than the other, creating the discrepancy. For example, as of October 2025, one might list him at $500 billion, while the other might be at $470 billion.