Elon Musk hits ‘historic first’: $400 billion net worth rocketed by $50 billion SpaceX share sale
Elon Musk Net Worth: Elon Musk has reached a net worth of $400 billion, driven by a SpaceX share sale and Tesla stock surge. His wealth increased by $62.8 billion in one day, contributing to the world’s richest 500 individuals surpassing $10 trillion in combined net worth.
Elon Musk Net Worth: Elon Musk has made history by becoming the first individual to surpass a staggering net worth of $400 billion (Approx. ₹33,938 crores), 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.
SpaceX Insider Share Sale Fuels wealth Surge
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.
Trump's Win and Musk's Stock Market Impact
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.
Elon Musk's $ 400 billion net worth was further enhanced by the close association with US-President elect Donald Trump.
Elon Musk has been appointed as co-head of the newly formed Department of Government Efficiency (DOGE), which, while not an official government body, is expected to provide recommendations on federal spending and operations.
Rise of Elon Musk's xAI and Other Ventures
In addition to SpaceX and Tesla, Elon Musk's artificial intelligence venture, xAI, has seen its valuation more than double since its last funding round in May, reaching approximately $50 billion.
Elon Musk's wealth trajectory has been nothing short of extraordinary. Since November 5, he has added around $136 billion to his fortune, reinforcing his status as the richest person in the world by a significant margin.
As of December 10, Elon Musk net worth was already $140 billion ahead of Jeff Bezos, who ranks second on the billionaire list.
Elon Musk's Net worth
Elon Musk's estimated net worth has now surpassed $400 billion, according to an estimate from Bloomberg News.
Elon Musk's position as the world's wealthiest person has experienced some volatility in recent years amid turbulence in Tesla's share price, but he has most recently held the No. 1 slot since May. A separate billionaire index tracked by Forbes pegs Musk's net worth at about $369 billion, with Amazon founder Jeff Bezos at No. 2 and Oracle co-founder Larry Ellison at No. 3.
Elon Musk faced a setback when a Delaware court rejected his record-setting Tesla pay package valued at over $100 billion for a second time.
However, even if this compensation is ultimately rescinded, Elon Musk remains well-positioned to maintain his status as the world's richest individual.
Key Takeaways
- Elon Musk’s net worth has significantly increased due to major share sales and positive stock market trends.
- Political factors, especially the Trump administration’s policies, have played a role in boosting Musk’s financial prospects.
- Despite facing legal challenges, Musk remains a dominant figure in the billionaire ranks.
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First Published:12 Dec 2024, 06:35 AM IST
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