Financial reports and news on company valuations

Elon Musk Becomes First Person to Surpass $400 Billion Net Worth, Fueled by Trump's Win and Insider Share Sale

Dec 12, 2024, 01:25 AM

Elon Musk has become the first person in history to reach a net worth of $400 billion, according to Bloomberg News. This milestone was largely driven by an increase in the value of his companies, Tesla and SpaceX, with the latter's valuation reaching $350 billion. Musk's wealth saw a significant boost following Donald Trump's win in the recent U.S. presidential election, with Tesla's share price soaring to new all-time highs. An insider share sale of SpaceX further increased Musk's net worth by $50 billion, bringing his total to $439.2 billion. This surge in wealth has positioned Musk's fortune higher than the combined net worth of Bill Gates and Jeff Bezos.