Elon Musk has hit yet another major milestone in his life.
Musk’s networth has hit an all-time high. Credit: Anna Moneymaker/GettyThe billionaire has managed to secure a newfound title after becoming the first person to reach $400 billion in net worth.
According to the Bloomberg Index, there have been several factors at play that have turbocharged the 58-year-old’s fortune including President-elect Donald Trump’s win last month, an insider share sale of his privately held SpaceX, which boosted Musk’s net worth by roughly $50 billion as well as the increase in Tesla Inc. shares, pushing Musk’s fortune to a whopping $447 billion.
The outlet reported that not only has Musk now become the first person to surpass $400 billion in terms of net worth, but he also holds the record for the biggest wealth jump in one day, coming in at $62.8 billion.
Musk’s net worth has come in around $447 billion. Credit: Anna Moneymaker/Getty
With this in mind, he’s helped to propel the combined fortunes of the world’s richest 500 people above $10 trillion, according to the outlet.
While Musk was already a pretty wealthy guy, 2024 saw him increase his net worth by approximately $218 billion, which is more than any other member of the group of rich folks.
And it’s all thanks to Tesla shares, which make up the bulk of Musk’s fortune and have gained 71% this year and closed earlier this week at $424.77, their first record high since 2021.
This was influenced by Donald Trump’s latest promise that he would help make self-driving cars more accessible by eliminating tax credits for electric vehicles that aid the company’s competitors, which in turn has increased the value of Tesla shares.
Tesla shares as well as more investment in SpaceX have helped Musk to secure his position as the world’s richest person. Credit: Andrew Harnik/Getty
The Bloomberg Index also reported that SpaceX and its investors agreed to purchase $1.25 billion of shares from employees and other company insiders, making the business the most valuable private startup in the world.
The deal holds the space exploration company at $350 billion.
Things continue to get better as the outlet also stated that the value of his artificial intelligence startup, xAI, has more than doubled to $50 billion since it last raised money in May, with the Wall Street Journal adding that Trump’s victory last month helped to drive newfound interest into the company.
Word outside of his own business ventures states that Musk will be dabbling in the world of politics by being assigned as co-head of the newly created Department of Government Efficiency, thanks to the 47th President of the United States.
Trump has assigned Musk a role in his administration. Credit: Anna Moneymaker/Getty
I mean, at this point, it’s probably fair to say that it’s Musk’s world and we’re all just living in it.
Featured Image Credit: Saul Martinez/Getty
News
Jada Pinkett Smith and Will Smith are heartbroken that their son Jaden has made a shocking decision. That is…
Every parent wants their kids to grow up and leave the “nest” to live their greatest life and start a family. Seeing kids grow and leave home is amazing and bittersweet. Jada Pinkett Smith and Will Smith went via that…
Taylor Swift spotted leaving gym in LA and getting in private car to Travis Kelce’s lavish mansion to take good time with ‘husband’
Ahead of what looks to be an exciting weekend in Los Angeles for the pop diva and her NFL beau, Travis Kelce, Taylor Swift is staying in shape and staying busy. The singer, who celebrated the holidays with her new…
Justin Bieber’s Shocking DNA Test Demand on His New𝐛𝐨𝐫𝐧 Baby: What’s Really Going On?”
In a bombshell revelation that has left fans and followers stunned, pop sensation Justin Bieber has reportedly demanded a DNA test on the newborn baby of his wife, Hailey Baldwin Bieber. This surprising turn of events has sparked intense speculation…
Oh My God! Jυstiп Bieber EXPOSES That He Was Kim Kardashiaп & Diddy’s ?*?-?0? For 10 Years! (VIDEO)
It seems like you’re asking for a controversial topic involving Justin Bieber, Kim Kardashian, and Diddy. This headline suggests an exaggerated or sensational claim, which is likely sourced from unreliable or tabloid-style media. Such rumors often lack credible evidence and…
What I Witnessed on Diddy’s Private Jet Will Haunt Me for the Rest of My Life
It started with a phone call, one that could change everything. As a seasoned pilot with two decades of experience, I’d seen it all — or so I thought. The call was from Diddy’s team, requesting a private flight to…
BREAKING: Kim Kardashian’s Shocking 12-Second Moment at Diddy’s Party Goes Viral
In the world of celebrities, every gesture, every glance, and every moment captured by cameras often becomes the subject of speculation. Recently, a particular event has caught the attention of both the media and fans: Kim Kardashian’s shocking 12-second moment…
End of content
No more pages to load
