Elon Musk has cemented his place in history as the first individual to surpass a net worth of $400 billion, according to the Bloomberg Billionaires Index.
The milestone reflects a significant surge in the valuations of his flagship companies, Tesla Inc (NASDAQ:TSLA). and SpaceX.
A recent insider share sale at SpaceX added roughly $50 billion to Musk’s fortune in a single transaction, boosting his net worth. The sale valued SpaceX at approximately $350 billion, reaffirming its position as the world’s most valuable private startup.
Musk holds a 42% stake in the aerospace company, which has been a cornerstone of his meteoric financial ascent.
Meanwhile, Tesla’s shares have surged nearly 70% since the recent US presidential election, driving the company’s market capitalization to $1.315 trillion—just shy of its all-time high. Investor enthusiasm has been fueled by speculation that regulatory changes under the incoming administration could disproportionately benefit Tesla compared to its competitors.
Musk’s wealth surge coincides with his increasing influence in US politics. A prominent supporter of Donald Trump’s re-election campaign, Musk played a pivotal role in securing the former president’s second term. His contributions have not gone unnoticed: Musk has been appointed co-head of the newly formed Department of Government Efficiency, granting him direct access to the White House and a platform to advocate for policies aligned with his business interests.
Musk’s latest financial milestone underscores a dramatic turnaround from late 2022, when his net worth plunged by over $200 billion amid volatile markets and slumping stock prices. His current fortune, estimated at $439.2 billion, not only reflects the resurgence of his ventures but also secures his position as the world’s richest person.