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Elon Musk, CEO of Tesla and SpaceX, has set a new record as the first individual to achieve a net worth of $400 billion, according to Bloomberg. This historic milestone follows a significant boost in SpaceX’s valuation, which now stands at approximately $350 billion after a recent deal.
Musk’s wealth surged by nearly $20 billion amid a broader market rally triggered by the 2024 US presidential election. Investors are optimistic about Musk’s potential influence within the Trump administration, with expectations of deregulation favoring Tesla. Tesla’s shares hit a record high of $424.77, further contributing to Musk’s net worth.
Beyond Tesla and SpaceX, Musk’s other ventures, including Neuralink, xAI, and The Boring Company, have experienced remarkable growth. A recent funding round doubled the valuation of xAI, adding to Musk’s financial success.
Despite his achievements, Musk has faced setbacks, including a Delaware court’s rejection of his record-breaking Tesla shareholder-approved pay package. Nevertheless, his net worth far surpasses that of Amazon founder Jeff Bezos by over $140 billion, solidifying his position as the world’s wealthiest individual.
