Financial analysis reports from Bloomberg or Forbes

Elon Musk First to Reach $400 Billion Net Worth Amid Trump's Influence

Dec 12, 2024, 10:10 PM

Elon Musk has become the first person in history to surpass a net worth of $400 billion, according to estimates from Bloomberg and Forbes. His wealth surge is attributed to significant increases in the share values of Tesla, his electric vehicle company, and SpaceX, his space exploration venture. Tesla's stock hit an all-time high of $424.9, rising by nearly 71% since the November 5 presidential election, while SpaceX's valuation reached $350 billion after a private share sale. Musk's close relationship with President-elect Donald Trump, including his substantial financial support during the election and his anticipated role in the new administration, has also contributed to his wealth growth. Despite a Delaware judge voiding a $56 billion Tesla pay package, Musk's net worth continues to soar, making him the world's richest individual by a significant margin.