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Elon Musk has become the first person to surpass a net worth of $400 billion, solidifying his position as the world's richest individual. According to the Bloomberg Billionaires Index, Musk's fortune reached $447 billion, marking significant growth since the U.S. presidential election last month. This milestone was driven by a recent insider share sale of his private space exploration company, SpaceX, which reportedly added around $50 billion to his wealth. Additionally, Tesla shares reached an all-time high, further boosting Musk's financial standing.
Musk's increasing wealth highlights the rising value of his ventures, particularly in the electric vehicle and space sectors, as Tesla and SpaceX continue to lead their respective markets. His artificial intelligence startup, xAI, has also seen its valuation double to $50 billion since May, adding another dimension to Musk's expanding financial empire.
Despite this remarkable rise, Musk has faced challenges. A Delaware court recently struck down his record-breaking Tesla pay package worth over $100 billion, marking a rare legal defeat. However, this setback is unlikely to affect his status as the world's wealthiest individual.
Musk's net worth has surged by $136 billion since November 5, according to the Bloomberg Billionaires Index. As of December 10, he was already $140 billion richer than Amazon founder Jeff Bezos, who is the second-richest person with a net worth of $249 billion. Mark Zuckerberg follows closely with $224 billion.