According to the Bloomberg Billionaires Index, Musk’s net worth increased by about $50 billion as a result of the most recent event, an insider sale of his privately held SpaceX shares. Elon Musk became the first person to achieve $400 billion in net worth, the most recent milestone for the richest person in the world. His wealth has increased since President-elect Donald Trump’s victory last month. According to the Bloomberg Billionaires Index, Musk’s net worth increased by about $50 billion as a result of the most recent event, an insider sale of his privately held SpaceX shares. Musk’s wealth reached $447 billion on Wednesday as shares of Tesla Inc. also surged to an all-time high.
Elon Musk net worth in billion :
According to the index, Musk’s $62.8 billion one-day wealth surge is the biggest on record and contributed to the aggregate fortunes of the top 500 individuals in the world surpassing $10 trillion for the first time. According to World Bank data, the group’s net worths are comparable to the combined gross domestic products of Germany, Japan, and Australia from the previous year. More than any other member of the group, Musk has increased his net worth by almost $218 billion since the beginning of 2024. The majority of Musk’s wealth is made up of Tesla shares, which finished Wednesday at $424.77, their first record high since 2021, after rising 71% this year.
Tesla’s stock has been boosted by expectations that Trump will expedite the introduction of self-driving cars and remove tax credits for electric vehicles that benefit the company’s rivals. As co-head of the recently established Department of Government Efficiency, Musk is also expected to play a significant role in the incoming administration. It offers him a direct connection to the Oval Office and a bully pulpit in Washington, even though it will operate outside the government. Since it last solicited funds in May, the value of his artificial intelligence business, xAI, has more than doubled to $50 billion; in November, the Wall Street Journal reported that Trump’s victory contributed to the surge in interest.
Employees and Bussiness man’s :
Employees and other business insiders agreed to sell $1.25 billion worth of shares to SpaceX and its investors on Wednesday. SpaceX is now the most valuable private startup in the world after the purchase, which values the privately held space exploration company at roughly $350 billion. Last week, Musk, 53, received terrible news when a Delaware judge invalidated his 2018 Tesla compensation package, which is now worth over $100 billion, for the second time. Musk called the ruling “absolute corruption” on X, and Tesla announced it would challenge it. Musk would still be by far the richest person in the world even if his compensation award was eventually revoked.
The majority of the company’s revenue comes from contracts with the US government, and under a Trump administration, it should be able to rely on more assistance. Shortly after the election, the president-elect accompanied Musk at a SpaceX launch in Texas and praised Musk’s plan to send humans to Mars in campaign rallies. The millionaire software entrepreneur Jared Isaacman, Trump’s choice to lead NASA, completed the first commercial spacewalk in September during a chartered SpaceX mission. Last month, he dubbed the corporation “the most innovative, literally impressive organization that I’ve ever seen” after using his payments firm to invest $27.5 million in SpaceX in 2021.