Elon Musk becomes first person to surpass $400 billion net worth: Report

Current Net Worth Comparison

Key highlights

• Historic achievement: Musk's net worth reached an estimated $400 billion, as reported by Bloomberg and other sources. This marks a historic first for any individual in financial history.
• Surge in wealth: The increase in Musk's wealth is largely attributed to a surge in Tesla's stock price and a recent valuation boost for SpaceX, which is now valued at approximately $350 billion following a private share transaction. His stake in SpaceX, estimated at 42%, has been a significant contributor to this financial leap.
• Recent valuation changes: Following the successful investment round for SpaceX and the rally of Tesla's stock — up about 65% since Donald Trump's election win — Musk's net worth reportedly soared to around $440 billion during trading on the same day.
• Market dynamics: Tesla’s market capitalisation has reached around $1.315 trillion, nearing its all-time highs, which has played a crucial role in boosting Musk's wealth. Additionally, his artificial intelligence venture, xAI, has also seen its valuation double to $50 billion this year.
• Political influence: Musk's financial resurgence coincides with his active role as a prominent supporter of Trump's political campaign, where he reportedly contributed significantly to Trump's efforts for re-election. This political alignment has been linked to favorable market conditions for his businesses.