Elon Musk Hits $400 Billion Net Worth, Becomes First Person to Reach Milestone
Elon Musk’s net worth has reached $400 billion, according to Bloomberg, making him the first person to ever cross that mark. The significant increase in his wealth was driven by a deal that valued his rocket company SpaceX at roughly $350 billion, with Musk and his investors agreeing to purchase as much as $1.25 billion of insider shares.
Musk’s wealth has surged since the aftermath of the 2024 US presidential election, with his ventures receiving a boost from his alliance with President-elect Donald Trump. As the CEO of Tesla and SpaceX, Musk has also enjoyed the success of his companies, with Tesla’s shares closing at a record high on Wednesday and the electric vehicle maker’s stock rallying roughly 65% since Election Day.
In addition to his entrepreneurial ventures, Musk has also been involved in various philanthropic efforts, including a new “Department of Government Efficiency” (DOGE) that he will oversee alongside Vivek Ramaswamy. The alliance has been met with mixed reactions, with some welcoming the potential benefits of Musk’s influence in the Trump administration, while others have expressed concerns about the impact on the environment and regulatory issues.
Musk’s rise to the top of the billionaires index has been meteoric, with the world’s wealthiest man now roughly $136 billion richer since November 5, according to the Bloomberg Billionaires Index. His artificial intelligence startup, xAI, has also more than doubled in value in November amid a new funding round, surging to $50 billion from a few months ago.
While Musk’s record-breaking Tesla-shareholder-approved pay package, worth $101 billion, was rejected by a Delaware court last week, his current net worth still stands at an astonishing $400 billion. With numerous ways to gain significantly more wealth in the coming years, it is likely that Musk’s net worth will continue to rise in the future.