Elon Musk has achieved a historic milestone, becoming the first individual to reach a net worth of $400 billion, according to Bloomberg. This unprecedented leap was driven by a $20 billion increase in his wealth, primarily fueled by a deal that raised the valuation of his aerospace company, SpaceX, to $350 billion. The agreement involved SpaceX and its investors purchasing up to $1.25 billion of insider shares.
Musk’s wealth surge has been bolstered by significant gains in his various ventures. Tesla shares reached a record high of $424.77, contributing substantially to his net worth as Musk remains the company’s largest shareholder. Since the 2024 U.S. presidential election, Tesla’s stock has soared by 65%, partly due to market optimism about Musk’s influence in the incoming Trump administration, which is expected to favor deregulation benefitting the electric vehicle sector.
Additionally, Musk’s artificial intelligence company, xAI, doubled in valuation in November, rising to $50 billion during a new funding round. These developments, alongside his leadership roles in Neuralink, X, and The Boring Company, continue to solidify his dominance on the Bloomberg Billionaires Index, where he outpaces Amazon founder Jeff Bezos by $140 billion.
While Musk’s extraordinary wealth increase has sparked both awe and scrutiny, including a rejected $101 billion Tesla pay package in a Delaware court, his numerous ventures indicate he is positioned to accumulate even greater wealth in the future.
