Elon Musk has made history yet again, becoming the first person ever to achieve a staggering net worth of $400 billion, according to Bloomberg.
The nearly $20 billion leap in Musk’s wealth is attributed to a deal that boosted the valuation of his space exploration company, SpaceX, to approximately $350 billion. Bloomberg reported on Tuesday that SpaceX and its investors agreed to buy up to $1.25 billion worth of insider shares.
Musk’s personal fortune has seen a significant increase since the aftermath of the 2024 US presidential election.
His alliance with President-elect Donald Trump has brought his ventures into the spotlight. Musk, who is the chief executive of Tesla and SpaceX, also owns X and oversees other enterprises, including Neuralink, xAI, and the Boring Company. Alongside Vivek Ramaswamy, Musk will now co-lead a newly established “Department of Government Efficiency” (DOGE), named after a popular cryptocurrency.
According to a report by CNN, Tesla shares hit a record high of $415 on Wednesday, with the electric vehicle maker’s stock rallying by approximately 65% since Election Day.
Additionally, Musk’s artificial intelligence venture, xAI, more than doubled in value during November, increasing to $50 billion following a fresh funding round, as reported by The Wall Street Journal.
Since 5 November, Musk’s wealth has grown by approximately $136 billion, according to the Bloomberg Billionaires Index.
While the top ranks of the billionaire index often fluctuate, Musk has outpaced his wealthy peers. As of 10 December, prior to reaching $400 billion, he was already $140 billion ahead of Amazon founder Jeff Bezos, the world’s second-richest person.
Musk’s record-breaking Tesla pay package, valued at $101 billion, was recently rejected by a Delaware court.
Bloomberg’s calculations, however, appear to include the package, which is now estimated to be worth $120 billion based on Tesla’s current share price.
Despite the court ruling, Musk remains well-positioned to grow his immense fortune further in the coming years.
