Elon Musk's net worth soars to $400 billion: report
It marks the first-ever instance of a billionaire crossing $400 billion
President-elect Trump watched the launch from Texas. It took place before sunset on Tuesday.
Elon Musk’s personal fortune has soared to a dizzying new level.
Bloomberg reported Wednesday that his net worth, already larger than anyone else’s on earth, has risen to $439.2 billion.
It marks the first-ever instance of a billionaire crossing $400 billion.
SpaceX and Tesla founder Elon Musk speaks during an America PAC town hall in Lancaster, Pennsylvania, on Oct. 26. (Samuel Corum/Getty Images / Getty Images)
SpaceX’s recent deal to acquire insider shares contributed to him achieving that feat, according to the outlet. The agreement reportedly made the company, which was founded in 2002, worth $350 billion, Bloomberg reported.
Electric vehicle maker Tesla and artificial intelligence company xAI, both of which Musk also runs, have played a part in driving up his net worth in recent weeks too, according to the outlet.
Musk holds hundreds of millions of Tesla shares, according to the company’s most-recent proxy statement.
Tesla model Y and model 3 are seen on display at a store in Tokyo on July 11. (Stanislav Kogiku/SOPA Images/LightRocket via Getty Images / Getty Images)
Tesla’s market capitalization hovered around $1.32 trillion as of late Wednesday afternoon. Its shares have posted gains of over 60% in the wake of President-elect Trump’s victory over Vice President Kamala Harris in the November presidential election.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TSLA | TESLA INC. | 357.09 | +11.93 | +3.46% |
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Some investors see a potential upside for the electric vehicle maker under the incoming Trump administration, FOX Business previously reported.
Forbes similarly reported Musk as having a personal fortune above $400 billion on Wednesday. It estimated his worth was $428 billion.
Elon Musk, billionaire and CEO of Tesla, appears at the Viva Tech fair in Paris on June 16, 2023. (Nathan Laine/Bloomberg via Getty Images / Getty Images)
The size of Musk’s personal fortune has varied in recent years, with it first hitting the $300 billion in 2021 and most recently in November, according to Forbes.
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Media outlets first associated him with the "three-comma club" in 2012.
The second-, third-, fourth- and fifth-richest people in the world were Jeff Bezos, Mark Zuckerberg, Larry Ellison and Bernard Arnault, respectively, as of Wednesday, the Bloomberg Billionaires Index showed.