Elon Musk Net Worth: World’s First $400 Billion Man! Details

Elon Musk, CEO of SpaceX and Tesla, has achieved a historic milestone as the first individual to surpass a $400 billion net worth, according to Bloomberg.

This remarkable financial feat comes after a series of developments, including a dramatic rise in Tesla’s stock and SpaceX’s valuation, as well as Musk’s association with President-elect Donald Trump.

As per the report by Bloomberg, Musk’s wealth recovery has been nothing short of extraordinary. After a sharp $200 billion drop in late 2022, his fortune rebounded significantly in 2024.

Tesla shares have soared by 65% since Trump’s election win last month, as investors anticipate regulatory changes favorable to Tesla, such as a streamlined self-driving car rollout and elimination of tax credits benefiting Tesla competitors.

Tesla and SpaceX Ride the Trump Wave
Reports from Bloomberg suggest that Musk is slated to co-head the newly established Department of Government Efficiency under the Trump administration, giving him direct access to the Oval Office.

Additionally, SpaceX solidified its position as the world’s most valuable private startup, now worth $350 billion. This week, SpaceX investors approved a $1.25 billion share purchase from employees and insiders. SpaceX’s close ties to the US government, further strengthened by Trump’s endorsement of Musk’s Mars vision, are likely to bolster the company’s growth under the new administration, as per the report by Bloomberg. 

As per the report by Bloomberg, Musk’s artificial intelligence startup, xAI, has seen its valuation more than double to $50 billion since May, thanks to increased investor interest following Trump’s election win. However, not all news has been favorable for Musk. Last week, a Delaware judge rejected his 2018 Tesla pay package worth over $100 billion, a decision Musk called “absolute corruption.” Despite plans to appeal, Musk remains the world’s wealthiest individual.