Elon Musk has set a new milestone in financial history, becoming the first individual to amass a net worth exceeding $400 billion. According to the Bloomberg Billionaires Index, Musk’s wealth now stands at an astounding $440 billion (£345 billion), surpassing the combined fortunes of Microsoft founder Bill Gates and Amazon’s Jeff Bezos.
Musk’s fortune has seen significant growth following the U.S. presidential election victory of Donald Trump, with whom Musk has been closely aligned as a major donor and advocate. Shares in Tesla, the electric vehicle company where Musk serves as CEO, have surged by 65% since the election, reaching a record high of $420. This growth is fueled by investor optimism that the new administration will eliminate tax credits benefiting Tesla’s competitors.
Tesla remains a key driver of Musk’s wealth, with his 12.8% stake valued at nearly $172 billion. Additionally, SpaceX, Musk’s rocket and satellite company, secured a $1.25 billion investment, raising its valuation to $350 billion and cementing its position as the world’s most valuable startup.
Also read: Elon Musk Becomes First Person in History to Amass $400 Billion in Wealth
This achievement marks a dramatic rebound for Musk, whose fortune had dropped to $137 billion just two years ago, solidifying his position as the wealthiest person in history.
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