Islamabad, Dec 12: The world’s richest individual has reached an unprecedented milestone.
Elon Musk’s net worth has soared to $400 billion, as reported by Bloomberg, making him the first person to cross this benchmark. This surge was largely driven by a $20 billion increase tied to a SpaceX valuation boost, which reached approximately $350 billion after Musk and investors agreed to buy up to $1.25 billion in insider shares.
Musk’s wealth has seen rapid growth since the 2024 US presidential election. His collaboration with President-elect Donald Trump has elevated his businesses, including Tesla, SpaceX, Neuralink, and xAI. Musk will also co-lead the newly established “Department of Government Efficiency” (DOGE) alongside Vivek Ramaswamy. Tesla’s shares closed at an all-time high of $424.77, fueled by optimism around potential deregulation under the Trump administration. The NASDAQ also hit a milestone, exceeding 20,000 for the first time.
Musk’s AI venture, xAI, doubled in valuation to $50 billion after a recent funding round. His personal wealth has increased by $136 billion since November 5, Bloomberg reported. On December 10, before this surge, he was already $140 billion wealthier than Jeff Bezos, Amazon’s founder and the world’s second-richest individual.
Despite a Delaware court rejecting Musk’s $101 billion Tesla pay package, its value—estimated at $120 billion—remains included in Bloomberg’s calculation. Musk’s wealth trajectory suggests substantial gains in the future.
