Elon Musk has made history again, becoming the first person to have a staggering net worth of $400 billion. Bloomberg.
The nearly $20 billion jump in Musk’s wealth is attributed to a deal that boosted the value of his space exploration company, SpaceX, to about $350 billion. Bloomberg It was reported on Tuesday that SpaceX and its investors agreed to buy $1.25 billion worth of insider shares.
Musk’s personal wealth has grown significantly since the 2024 US presidential election.
His alliance with President-elect Donald Trump has thrust his venture into the spotlight. Musk, who is the chief executive of Tesla and SpaceX, also owns X and oversees other ventures including Neuralink, xAI, and the Boring Company. Along with Vivek Ramaswamy, Musk will now co-head the newly established “Department of Government Efficiency” (DOGE), named after a popular cryptocurrency.
According to a report by CNNShares of Tesla hit a record high of $415 on Wednesday, with the electric vehicle maker’s stock up nearly 65% since Election Day.
In addition, Musk’s artificial intelligence venture, xAI, more than doubled in value in November, rising to $50 billion after a new funding round, according to reports. The Wall Street Journal.
According to the Bloomberg Billionaires Index, Musk’s wealth has increased by nearly $136 billion since Nov. 5.
While the top ranks of the billionaire index often fluctuate, Musk has outperformed his wealthiest peers. As of December 10, before reaching $400 billion, he was $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.
However, Bloomberg’s calculations appear to include the package, which is now estimated to be $120 billion based on Tesla’s current share price.
Despite the court order, Musk is well positioned to grow his massive fortune in the coming years.