Elon Musk Becomes the First Person to Reach $400 Billion Net Worth
Elon Musk made a huge leap in his wealth as he gained $62.8 billion in just one day!
Mumbai (Maharashtra) [India] December 12: Elon Musk, the CEO of Tesla and SpaceX, has created history by becoming the first person to have a net worth of more than $400 billion. This milestone was confirmed by the Bloomberg Billionaires Index, which tracks the world’s richest people. Musk’s wealth grew because the value of his companies, especially SpaceX, increased significantly.
One big reason for his record-breaking wealth was a recent sale of SpaceX shares. SpaceX, known for its space missions and technology, sold shares worth $1.25 billion to employees and insiders. This raised the company’s value to $350 billion, making it the most valuable private startup in the world. The sale added about $50 billion to Musk’s fortune.
In 2024, Musk’s wealth has grown faster than anyone else’s. Since January, his net worth has increased by $218 billion, mainly due to Tesla’s stock price. Tesla’s stock has risen by 71% this year, reaching $424.77 per share, which has significantly boosted Musk’s wealth.
Most of Musk’s fortune comes from Tesla, the electric car company he leads. Tesla has grown due to the popularity of electric cars and Musk’s strong leadership. As the world moves towards clean energy, Tesla’s success has made Musk the richest person in the world.
Apart from Tesla and SpaceX, Musk owns other businesses focusing on artificial intelligence and brain-computer technology. His ability to run and invest in successful companies has made him one of the most influential people in the business world.
In 2024, there was a day when Musk’s wealth jumped by $62.8 billion—the largest single-day increase ever. This rise helped the combined wealth of the world’s richest 500 people cross $10 trillion, a major milestone.
Musk’s wealth is now comparable to the entire economic output of big countries like Germany and Japan, showing just how massive it is. However, while Musk’s success is impressive, it also highlights the growing gap between the rich and the poor.
Musk is also involved in politics and has supported former U.S. President Donald Trump. His companies, including SpaceX, work closely with the U.S. government, especially NASA. Musk’s vision of space exploration which includes sending astronauts to Mars, has earned him both praise and criticism.
What's Your Reaction?
