Elon Musk, CEO of Tesla and SpaceX, has reached an unprecedented milestone, becoming the first individual to accumulate a net worth exceeding $400 billion, according to the Bloomberg Billionaires Index.
The surge in Musk’s wealth came after SpaceX finalized a deal allowing investors to purchase up to $1.25 billion worth of insider shares, valuing the aerospace company at approximately $350 billion. This transaction boosted Musk’s fortune by $50 billion, bringing his total net worth to $440 billion.
The rapid increase in Musk’s wealth also reflects the soaring stock value of Tesla, which has risen by about 65% since November, coinciding with Donald Trump’s victory in the U.S. presidential election. Musk, a prominent political donor, supported Trump’s campaign with $270 million.
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Musk’s close ties with Trump have sparked speculation about the advantages his businesses might gain, given their interactions with U.S. and international governments. SpaceX, in particular, has strengthened its prominence with recent high-profile projects, further solidifying Musk’s influence.
The billionaire’s wealth is largely tied to Tesla’s stock performance and the valuation of SpaceX, showcasing how Musk’s ventures continue to shape industries ranging from electric vehicles to space exploration.
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