Valuation reports from SpaceX or major financial news outlets like Bloomberg

Elon Musk's Net Worth Surpasses $400 Billion Amid Tesla's 69% Surge Following Trump's Victory

Dec 12, 2024, 09:15 AM

Elon Musk has become the first person to amass a net worth exceeding $400 billion, increasing by $62 billion in a single day, according to Bloomberg Billionaires Index. The surge in his wealth is attributed to Tesla's stock reaching an all-time high of $424.77 per share, doubling in less than two months since October 23, up 69% since Donald Trump's presidential victory, whom Musk supported with $270 million during the campaign. Tesla's stock has provided investors with a remarkable return of 37,500% since its IPO in 2010. Musk's fortune has also been bolstered by SpaceX's valuation climbing to $350 billion following an internal share sale, making it more valuable than McDonald's and Coca-Cola. Tesla's Q3 2024 revenue hit $25.18 billion, with significant contributions from the U.S. ($12.58 billion), China ($5.67 billion), and other countries ($6.93 billion).