Elon Musk Becomes First Person to Reach $400 Billion Net Worth

AUSTIN, TX - Elon Musk’s net worth has reached $400 billion, making him the first individual to achieve this milestone, according to Bloomberg.

The surge in his wealth is tied to a valuation increase for his rocket company, SpaceX, which now stands at approximately $350 billion.

The jump, estimated at $20 billion, was spurred by a deal allowing SpaceX and its investors to purchase $1.25 billion in insider shares. Tesla’s stock price also climbed to a record high of $415 per share this week, a 65% rise since Election Day. 

Musk, who also leads ventures such as Neuralink, xAI, and the Boring Company, is now $140 billion wealthier than Amazon founder Jeff Bezos. His artificial intelligence startup, xAI, recently surged in value to $50 billion, fueled by a new funding round.

As of December 10, Musk remains the world’s wealthiest individual, with Bloomberg’s Billionaires Index reporting an increase of $136 billion in his net worth since November 5.