Elon Musk Becomes First Person in History to Amass $400 Billion Fortune

Elon Musk, CEO of Tesla and founder of SpaceX, has made history by becoming the first person to amass a fortune exceeding $400 billion.

His net worth is now around $440 billion (£345 billion), surpassing the combined wealth of Microsoft founder Bill Gates and Amazon’s Jeff Bezos.

Musk’s fortune surged in the weeks following the US presidential election, with a notable boost from a recent share sale at SpaceX. This sale contributed approximately $50 billion to his wealth and increased SpaceX’s valuation to $350 billion, making it the world’s most valuable private company.

Additionally, the rise in Tesla’s stock price helped push Musk’s net worth to $447 billion.

Tesla shares reached an all-time high of $415, fueled by investor optimism regarding the company’s future in electric vehicles and clean energy, particularly following the election of President-elect Donald Trump. Investors are hopeful that regulatory changes under the new administration, such as updates to self-driving car regulations and tax policies, will benefit Tesla.

Musk’s artificial intelligence company, xAI, also saw its valuation double to $50 billion since its May funding round, as the company works on developing advanced AI technologies.

Despite Musk’s unprecedented financial success, he has faced some setbacks, including a court ruling that struck down his $100 billion Tesla pay package. However, this legal challenge is unlikely to impact his position as the world’s wealthiest person.

As of December 10, Musk’s fortune is $140 billion ahead of Jeff Bezos, who ranks second on the Bloomberg Billionaires Index. Since early November, Musk has added around $136 billion to his wealth, further solidifying his position atop the global billionaire rankings.