Elon Musk has made history by becoming the first individual to surpass a staggering net worth of $400 billion, according to the Bloomberg Billionaires Index.
This remarkable achievement comes on the heels of a significant insider share sale at his aerospace company, SpaceX, which contributed approximately $50 billion to his wealth.
The recent insider share sale involved SpaceX purchasing up to $1.25 billion worth of shares from employees and company insiders, reported Bloomberg. This transaction elevated the valuation of SpaceX to around $350 billion, solidifying its position as the most valuable private startup globally. Musk is said to own 42% of the firm.
Elon Musk’s net worth soared to an impressive $439.2 billion As Tesla shares hit a new high Wednesday, according to Bloomberg.
Elon Musk’s $400 billion net worth has also been significantly influenced by the political landscape in the United States, particularly following the election of President-elect Donald Trump.
Since Donald Trump’s victory, Elon Musk headed Tesla’s stock has surged by approximately 65%, with shares hitting an all-time high of $415. Investors are optimistic that Donald Trump’s administration will streamline regulations for self-driving cars and eliminate tax credits that benefit Tesla’s competitors.
