According to Bloomberg, Elon Musk has reached a significant financial milestone by becoming the first person in history to reach the $400 billion mark. This outstanding accomplishment follows a string of calculated actions that have increased the worth of his companies.
The recent valuation of SpaceX, which is currently valued at about $350 billion, was a major contributor to Musk’s wealth explosion. The valuation came after an agreement that allowed SpaceX and its investors to purchase insider shares worth up to $1.25 billion. SpaceX is keeping quiet about the specifics despite reaching out to the media. Musk’s wealth growth has been fueled further by an alliance with President-elect Donald Trump, propelling his ventures to national prominence. As CEO of Tesla, SpaceX, Neuralink, xAI, and the Boring Company, and the owner of X, Musk also takes on a government advisory role with the newly announced “Department of Government Efficiency” (DOGE).
Tesla shares hit a record high of $424.77, buoyed by a broader market rally that saw NASDAQ surpass 20,000 for the first time. Investors anticipate that Musk’s influence in the Trump administration will drive deregulation, favoring Tesla’s future. The electric vehicle manufacturer’s stock has surged 65% since Election Day. Meanwhile, Musk’s AI startup, xAI, doubled its valuation to $50 billion in November after a successful funding round.
Musk’s net worth has increased by $136 billion since November 5, making him $140 billion richer than Amazon founder Jeff Bezos, the second-richest person globally.
Although a Delaware court recently rejected Musk’s $101 billion Tesla pay package, its value has climbed to $120 billion due to Tesla’s stock performance. Bloomberg’s calculations suggest the pay package remains included in Musk’s wealth, signaling more gains ahead.
As Musk continues to break financial records, his influence and fortune show no signs of slowing, solidifying his status as an unparalleled force in the world of innovation and wealth.