Elon Musk, CEO of Tesla and founder of SpaceX, has made history as the first person to surpass a $400 billion fortune. His net worth now stands at $447 billion (£345 billion), according to the Bloomberg Billionaires Index—more than the combined wealth of Microsoft founder Bill Gates and Amazon’s Jeff Bezos.
A recent $50 billion boost from a SpaceX share sale played a significant role in this milestone. The transaction also elevated SpaceX’s valuation to $350 billion, making it the most valuable private company globally.
This, coupled with a surge in Tesla’s stock price, propelled Musk’s fortune to new heights.
Tesla shares reached a record high of $415, driven by optimism over the company’s role in electric vehicles and clean energy under the incoming administration of President-elect Donald Trump.
Investors anticipate regulatory changes, including updates to self-driving car policies and tax incentives, that could benefit Tesla’s growth.
Musk’s artificial intelligence venture, xAI, also contributed to his financial rise. The company’s valuation has doubled to $50 billion since its May funding round, reflecting progress in developing advanced AI technologies.
Despite these achievements, Musk has faced challenges. A Delaware court recently invalidated his $100 billion Tesla pay package in a rare legal setback.
However, the ruling is unlikely to diminish his standing as the world’s wealthiest individual.
As of December 10, Musk leads the Bloomberg Billionaires Index by $140 billion, solidifying his position as the richest person globally.
Since November, he has added an impressive $136 billion to his wealth, cementing his dominance in the billionaire rankings.
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