Elon Musk has made history by becoming the first individual to surpass a net worth of $400 billion, as per a report by Bloomberg.
The milestone comes amid significant increases in the valuations of his companies, particularly Tesla and SpaceX.
As per estimates by Forbes, however, Musk’s networth is currently estimated at $368 billion.
Current Net Worth Comparison
| Billionaire | Net Worth (USD) | Primary Source of Wealth |
|---|---|---|
| Elon Musk | $368 billion | Tesla, SpaceX |
| Jeff Bezos | $244 billion | Amazon |
| Larry Ellison | $203 billion | Oracle |
Key highlights
- Historic achievement: Musk’s net worth reached an estimated $400 billion, as reported by Bloomberg and other sources. This marks a historic first for any individual in financial history.
- Surge in wealth: The increase in Musk’s wealth is largely attributed to a surge in Tesla’s stock price and a recent valuation boost for SpaceX, which is now valued at approximately $350 billion following a private share transaction. His stake in SpaceX, estimated at 42%, has been a significant contributor to this financial leap.
- Recent valuation changes: Following the successful investment round for SpaceX and the rally of Tesla’s stock — up about 65% since Donald Trump’s election win — Musk’s net worth reportedly soared to around $440 billion during trading on the same day.
- Market dynamics: Tesla’s market capitalisation has reached around $1.315 trillion, nearing its all-time highs, which has played a crucial role in boosting Musk’s wealth. Additionally, his artificial intelligence venture, xAI, has also seen its valuation double to $50 billion this year.
- Political influence: Musk’s financial resurgence coincides with his active role as a prominent supporter of Trump’s political campaign, where he reportedly contributed significantly to Trump’s efforts for re-election. This political alignment has been linked to favorable market conditions for his businesses.