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Elon Musk's Wealth Tops $400 Billion as Tesla Hits $420.69, Surpassing Bezos and Gates Combined

Dec 12, 2024, 01:37 AM

Elon Musk's net worth has surpassed $400 billion, making him the first person in history to reach this milestone. His wealth has increased by $218 billion since the beginning of 2024 and now exceeds that of Jeff Bezos and Bill Gates combined. This record-breaking increase is attributed to the surge in Tesla's stock price, which closed at a new all-time high of $424.77, surpassing the previous high of $409.97 set in November 2021. Tesla's stock briefly hit $420.69 during trading, a notable figure given Musk's past comments. The company's shares are up 72% year-to-date after reaching a low of $138 in April. Tesla's market capitalization has increased by more than $515 billion since the U.S. presidential election on November 5th, reflecting investor optimism following President-elect Donald Trump's victory. Musk's wealth has been further bolstered by the performance of his companies, including Tesla and SpaceX, whose valuations have surged.