Elon Musk’s net worth has surpassed $400 billion, making him the first person in history to reach this milestone. This significant achievement is primarily attributed to the success of his ventures, including Tesla and SpaceX. Moreover, Musk’s involvement in other ventures, including Neuralink and The Boring Company, further adds to his wealth.
Elon Musk has set a new record by becoming the first person in history to reach a net worth of $400 billion. This milestone comes after a significant boost in the valuation of his rocket company, SpaceX, which surged to $350 billion. The rise was fueled by a $1.25 billion insider share purchase deal, reflecting growing investor confidence in the company’s potential.
Musk is the CEO of Tesla and SpaceX, along with ventures like Neuralink, xAI, and the Boring Company. He has seen his wealth grow rapidly since the 2024 U.S. presidential election. His close alliance with President-elect Donald Trump has brought his businesses into the spotlight. Notably, Musk and entrepreneur Vivek Ramaswamy are set to lead a newly formed “Department of Government Efficiency” (DOGE). It is a department humorously named after a popular cryptocurrency.
Tesla’s stock has been a significant contributor to Musk’s wealth. On December 11, its shares closed at a record $424.77, marking a 65% increase since Election Day. Investors are optimistic that Musk’s influence in the Trump administration could result in reduced regulations.
SpaceX’s achievements, including the development of the Starship rocket for interplanetary travel, have further bolstered Musk’s fortune. The company’s innovations and growing investor support have solidified its position as a leader in space exploration.
Musk’s Other Ventures
Musk’s artificial intelligence startup, xAI, has also played a role in his wealth surge. In November, xAI doubled its valuation to $50 billion during a new funding round. It showcases the growing interest in AI and Musk’s leadership in the field.
As of December 10, Musk’s fortune was already $140 billion ahead of Amazon founder Jeff Bezos, the second-richest person in the world. While wealth rankings can fluctuate, Musk’s $400 billion net worth cements his position at the top.
Despite controversies, such as a recent court rejection of his $101 billion Tesla pay package, Musk continues to break financial records. This $400 billion net worth solidifies his legacy as a trailblazer in technology and innovation.
