Elon Musk Becomes First Person to Reach $400 Billion Net Worth

Elon Musk, the CEO of Tesla and founder of SpaceX, has become the first individual in history to amass a net worth of $400 billion, according to the Bloomberg Billionaires Index.

A recent share sale at SpaceX played a key role in this milestone, contributing roughly $50 billion to Musk’s wealth and boosting SpaceX’s valuation to $350 billion, making it the world’s most valuable private company. This increase, combined with a surge in Tesla’s stock price, pushed Musk’s net worth to $447 billion.

Tesla shares hit an all-time high of $415, driven by investor optimism about the company’s future in electric vehicles and clean energy. Musk’s fortune has also been buoyed by broader market trends, particularly following the election of President-elect Donald Trump, with Tesla shares climbing 65% since his victory. Investors have been hopeful about regulatory changes under the new administration that could benefit Tesla, including potential updates to self-driving car regulations and tax policies.

In addition to SpaceX and Tesla, Musk’s artificial intelligence company, xAI, has seen its valuation double to $50 billion since its May funding round, as the company works on developing advanced AI technologies.

While Musk’s financial successes are unprecedented, he has encountered some setbacks. A Delaware court recently struck down his $100 billion Tesla pay package, a rare legal challenge. Nevertheless, this ruling is unlikely to affect Musk’s standing as the world's wealthiest person.

As of December 10, Musk's fortune is $140 billion ahead of Jeff Bezos, the second-richest person on the Bloomberg Billionaires Index. Since early November, Musk has added about $136 billion to his wealth, cementing his position at the top of the global billionaire rankings.