Elon Musk's Wealth Hits $447B as Tesla Soars 69%, SpaceX Valued at $350B

Dec 12, 2024, 11:08 AM

Elon Musk has become the first person in history to surpass a net worth of $447 billion, according to the Bloomberg Billionaires Index. This unprecedented wealth was achieved after shares of Tesla Inc. closed at a record high of $424.77 on Wednesday, surpassing its previous peak set over three years ago. The electric vehicle manufacturer's stock has surged 69% since Donald Trump's presidential election victory, reflecting market optimism. Additionally, Musk's privately held space exploration company, SpaceX, saw its valuation soar to $350 billion following an internal share sale of $1.25 billion. Musk's net worth has increased by $218 billion year-to-date, placing him nearly $200 billion ahead of the world's second-richest individual, Jeff Bezos. The combined growth of Tesla and SpaceX underscores Musk's influential role in the tech industry and his dominance among global entrepreneurs.