Financial reports and news articles detailing Musk's wealth sources

Elon Musk's Net Worth Tops $400 Billion as Tesla Hits Record $424.77 After 69% Surge Since Trump's Victory

Dec 12, 2024, 08:00 AM

Elon Musk has become the first person in history to reach a net worth exceeding $400 billion, now estimated at $447 billion. His fortune has increased by $218 billion since the start of 2024. Tesla shares surged to a record high of $424.77, closing up 5.9%. The stock has risen 69% since Donald Trump's victory in the U.S. presidential election, which Musk supported with $270 million. Tesla's market capitalization has now reached $1.36 trillion. The surge in Tesla's stock price has significantly boosted Musk's wealth, making him now worth more than Jeff Bezos and Bill Gates combined. SpaceX's valuation also increased to $350 billion after an insider share sale of $1.25 billion, further contributing to Musk's fortune. Analysts have raised their price targets for Tesla, with Daiwa Capital Markets increasing its target to $420 from $285.