Tesla titan Elon Musk make history as first man to reach a net worth of $400 billion

The world’s richest person has now reached an even greater milestone.

According to Bloomberg, Elon Musk is the first man in history to have a net worth of $400 billion.

According to Bloomberg, Musk’s over $20 billion increase in wealth was the result of a deal that increased SpaceX’s worth to around $350 billion. SpaceX and its investors agreed to buy up to $1.25 billion in insider shares.

Since the 2024 US presidential election, Musk’s personal wealth has increased significantly.

An relationship with President-elect Donald Trump has pushed his efforts to the forefront. Musk is the CEO of Tesla and SpaceX, as well as the owner of X and CEO of several other companies, including Neuralink, xAI, and the Boring Company. Along with Vivek Ramaswamy, he will now lead a new “Department of Government Efficiency” (DOGE), called after the memecoin.

Tesla shares finished at a record high of $424.77 on Wednesday. Musk, Tesla’s largest individual shareholder, has also benefited from the stock’s rise, which was aided by the NASDAQ reaching 20,000 for the first time on Wednesday. Since Election Day, the EV maker’s stock has risen by almost 65% on investors’ anticipation that Musk’s influence in the Trump administration will usher in a period of deregulation that will benefit the company.

His artificial intelligence business, xAI, has more than doubled in value in November due to a fresh fundraising round, rising to $50 billion from a few months earlier, according to the Wall Street Journal.

According to the Bloomberg Billionaires Index, the world’s wealthiest individual has increased his wealth by almost $136 billion since November 5.

While the top positions on the billionaires index typically change, Musk is outpacing his affluent peers. Before his wealth jumped to $400 billion on December 10, he was already $140 billion richer than Amazon founder Jeff Bezos, the world’s second richest man.

Last Monday, a Delaware court rejected Musk’s record-breaking Tesla shareholder-approved pay deal worth $101 billion.

Bloomberg’s figure appears to still include the pay package, which is currently worth up to $120 billion based on the current valuation of Tesla stock.

However, Musk will continue to enjoy his wealth, with various opportunities to increase it greatly in the future years.