Elon Musk has made history as the first person ever to reach a net worth of over $400 billion, according to the Bloomberg Billionaires Index. His journey to immense wealth has been extraordinary. Let’s explore the key factors behind Elon Musk's incredible success.
According to the Bloomberg Billionaires Index, Elon Musk is the first person in history to have a net worth of over $400 billion (about ₹33,938 crores).
This outstanding accomplishment follows a large insider share sale at his aerospace company, SpaceX, which increased his wealth by about $50 billion.
Elon Musk’s Net Worth Crosses 400 Billion
According to Bloomberg, SpaceX bought up to $1.25 billion worth of shares from workers and business insiders in a recent insider share sale. With this deal, SpaceX's valuation increased to almost $350 billion, securing its place as the world's most valuable private startup. Musk reportedly owns 42% of the company.
Apart from SpaceX and Tesla, Elon Musk's artificial intelligence business, xAI, has more than doubled in value since its most recent investment round in May, hitting over $50 billion.
The net wealth of Elon Musk skyrocketed to an astounding $439.2 billion. As per the Bloomberg Index, the net worth of India's richest person Mukesh Ambani is 114 Billion, which is approximately 4 times less than the Elon Musk's net worth.
Trump’s Win Played Significant Role
The political climate in the United States, especially after the election of President-elect Donald Trump, has also had a big impact on Elon Musk's $400 billion fortune.
Advertisement
Elon Musk led Tesla's stock soared by around 65% after Donald Trump's election, with shares reaching an all-time high of $415. Investors are hopeful that the Trump administration will remove tax breaks that favor Tesla's rivals and simplify rules pertaining to self-driving cars.
Close Relations with Donald Trump
Elon Musk's close relationship with US President-elect Donald Trump further increased his $400 billion fortune.
Elon Musk has been appointed co-head of the newly created Department of Government Efficiency (DOGE). Although it’s not an official government agency, this group will give suggestions on improving federal spending and operations.
The trajectory of Elon Musk's riches has been nothing short of remarkable. He has increased his wealth by about $136 billion since November 5, solidifying his position as the world's richest person by a wide margin.
By December 10, Elon Musk's wealth had already surpassed Jeff Bezos, the second-highest billionaire on the list, by $140 billion.
