Elon Musk, the world’s richest person, has added another historic milestone to his list by becoming the first individual to cross a net worth of $400 billion, according to Bloomberg.
Musk’s wealth shot up following a significant insider share sale and after the recent U.S. election results.
Tesla shares skyrocketed to a record high of $415 on Wednesday, with the company’s stock rallying approximately 65% since Election Day. This dramatic rise in value has been fueled by investor confidence in Musk’s growing political influence and expectations of regulatory advantages under the incoming Trump administration.
Musk is set to oversee the newly established “Department of Government Efficiency” alongside Vivek Ramaswamy as part of the Trump administration. This strategic alliance is seen as both politically and financially advantageous for Musk, as deregulation efforts are expected to benefit Tesla and other Musk-led ventures.
In addition to Tesla’s meteoric rise, Musk’s artificial intelligence startup, xAI, more than doubled its valuation to $50 billion in November, driven by a fresh funding round, according to The Wall Street Journal.
The Bloomberg Billionaires Index revealed that Musk’s fortune has grown by $136 billion since November 5, thanks to Tesla’s stock performance and broader market gains. The NASDAQ also hit an all-time high of 20,000 on Wednesday, further boosting investor sentiment.
Musk, Tesla’s largest individual shareholder, has seen his net worth grow despite recent legal challenges. A Delaware court rejected his record-breaking $101 billion Tesla pay package last week, although Bloomberg’s calculations still include its current valuation of $120 billion.
Musk has now widened the gap between himself and Jeff Bezos, the Amazon CEO and the world’s second-richest person.
This milestone solidifies Musk’s unprecedented financial success, reflecting both his influence in the corporate world and his strategic navigation of political and economic landscapes.
$400 Billion And Upwards: Elon Musk Widens Gap With Bezos, Zuckerberg As World’s Richest Person world-news World News | Latest International News | Global World News | World Breaking Headlines Today
