Elon Musk has made history by becoming the first person ever to reach a $400 billion net worth. This landmark achievement follows a series of gains across his major ventures, including Tesla and SpaceX. Musk’s wealth surge is fueled by rising stock values, strategic investments, and the ongoing success of his innovative companies. With this milestone, Musk establishes his place as one of the world’s most influential business leaders.
In this article, we take a closer look at the changes contributing to Musk’s net worth.
Elon Musk’s net worth reaches $400 billion
Elon Musk has set a remarkable new record, becoming the first individual to achieve a net worth of over $400 billion. This milestone, reported by Bloomberg, follows a significant insider share sale of SpaceX, which added approximately $50 billion to his fortune. According to the Bloomberg Billionaires Index, Musk’s total wealth now stands at $439.2 billion, establishing his position as the richest individual globally.
This surge follows a period of recovery for Musk, whose net worth had previously declined by more than $200 billion in late 2022. The recent US presidential election proved to be a pivotal moment, with Musk benefiting as a key donor and ally of the incoming administration. Tesla’s stock has soared by 65% since the election, driven by market expectations that the new administration’s policies will favor the electric vehicle industry. Tesla’s stock has surged, fueled by policies that may speed up self-driving car approvals and cut tax breaks for competing electric vehicle makers.
In addition to Tesla and SpaceX, Musk’s artificial intelligence startup, xAI, has seen its valuation double to $50 billion this year, further adding to his wealth. SpaceX’s recent valuation of $350 billion following its insider share buyback also boosts its position as the most valuable private startup in the world.
