Elon Musk Becomes First Person In History To Amass $400billion Fortune

Elon Musk, CEO of Tesla and founder of SpaceX, has become the first individual in history to create a wealth worth more than $400 billion.

According to the Bloomberg Billionaires Index, his net worth is now over $440 billion (£345 billion), which is more than Microsoft founder Bill Gates and Amazon’s Jeff Bezos put together.

Mr Musk’s riches has increased dramatically in the weeks after Donald Trump’s victory in the US presidential election.

A recent SpaceX share sale was instrumental in achieving this milestone, adding approximately $50 billion to Musk’s wealth and increasing SpaceX’s valuation to $350 billion, making it the world’s most valuable private corporation. This increase, combined with a rise in Tesla’s stock price, boosted Musk’s net worth to $447 billion.

Tesla shares reached an all-time high of $415, powered by investor optimism about the company’s future in electric vehicles and clean energy following the election of President-elect Donald Trump.

Investors are optimistic about regulatory changes under the next administration that will help Tesla, such as expected modifications to self-driving car laws and tax policies.

Along with SpaceX and Tesla, Musk’s artificial intelligence business, xAI, has seen its valuation double to $50 billion since its May fundraising round, as the company attempts to build sophisticated AI technology. While Musk’s financial success is extraordinary, he has faced significant challenges.

A Delaware court recently rejected his $100 billion Tesla compensation package, a rare legal challenge. Nonetheless, this decision is unlikely to have an impact on Musk’s position as the world’s wealthiest person.

Elon Musk’s fortune was $140 billion higher on December 10 than Jeff Bezos, the second-richest individual on the Bloomberg Billionaires Index. Musk’s wealth has increased by almost $136 billion since early November, consolidating his position at the top of the worldwide billionaire rankings.