Elon Musk Achieves Milestone as the First Person to Reach a $400 Billion Net Worth

Elon Musk has reached a historic milestone, becoming the first person ever to amass a net worth of $400 billion, according to Bloomberg. This achievement comes largely due to a series of successful ventures, including a major deal that boosted the valuation of his rocket company, SpaceX, to approximately $350 billion. Bloomberg reported that SpaceX and its investors agreed to purchase up to $1.25 billion in insider shares, which significantly contributed to Musk’s nearly $20 billion surge in wealth.

Musk’s wealth has seen a remarkable rise following the 2024 US presidential election, with a notable increase linked to his controversial relationship with President-elect Donald Trump. Musk’s business empire spans several successful companies, including Tesla, SpaceX, Neuralink, xAI, and The Boring Company. Musk is also set to oversee the new “Department of Government Efficiency” (DOGE), which has drawn attention due to its playful name, derived from the popular memecoin Dogecoin.

The latest surge in Musk’s wealth has been fueled by Tesla’s stock rally, which saw shares closing at an all-time high of $424.77 on December 10. As the largest individual shareholder in Tesla, Musk has benefited significantly from this increase. Tesla’s stock has surged by about 65% since Election Day, with investors betting that Musk’s influence in the Trump administration could lead to deregulation that would favor Tesla’s business interests.

In addition to the Tesla boom, Musk’s artificial intelligence startup, xAI, has experienced explosive growth, more than doubling in value to $50 billion following a successful funding round in November, as reported by The Wall Street Journal. Musk’s wealth has increased by roughly $136 billion since November 5, pushing him far ahead of his peers, including Amazon founder Jeff Bezos, who is the second-wealthiest person on the planet. Musk’s net worth is now $140 billion higher than Bezos’s.

While Musk’s wealth has skyrocketed, the Delaware court recently rejected his record-breaking Tesla shareholder-approved pay package, which was valued at $101 billion. However, Bloomberg’s calculations appear to include this package, which is now worth up to $120 billion based on Tesla’s current stock price.

Musk’s unprecedented financial success is driven by a combination of strategic business moves and market performance, with ample opportunities for his wealth to continue growing. His ventures in electric vehicles, space exploration, artificial intelligence, and other groundbreaking industries place him in a strong position to maintain his status as the world’s wealthiest individual for the foreseeable future.