Elon Musk becomes the first person in the world to own a net worth of 400 billion USD

(CLO) According to Bloomberg, billionaire Elon Musk's net worth has reached the 400 billion USD mark, and he became the first person to surpass that mark.

Musk's fortune has skyrocketed again as investors agreed to buy back a large amount of SpaceX's internal stock. This deal pushed SpaceX's value up to about $350 billion, thereby helping Musk earn an additional $20 billion thanks to the large amount of stock he holds in this aerospace company.

Billionaire Elon Musk. Photo: Reuters

Since his strong support for Donald Trump to win the 2024 US presidential election, billionaire Musk has seen a significant increase in his personal assets. The reason is that investors believe that the companies he owns will thrive, thereby continuously buying back the shares of these companies.

Elon Musk is currently the CEO of Tesla and SpaceX, also the owner of the social network X and the CEO of other companies such as Neuralink, xAI and The Boring Company. In addition, he has been nominated by President-elect Donald Trump to head the "Department of Government Efficiency" (DOGE).

Tesla shares also hit a new record closing high of $424.77 on Wednesday, delivering a huge gain to Elon Musk, the company's largest shareholder. This came amid a rosy US stock market, with the NASDAQ index surpassing 20,000 for the first time.

Tesla shares have risen about 65% since the US election, with investors hoping that Musk's influence in the Trump administration will create a more favorable business environment, especially in terms of loosening regulations.

Elon Musk's artificial intelligence startup, xAI, also doubled its value in November, reaching $50 billion in a new funding round, according to the Wall Street Journal.

While the billionaire rankings are always fluctuating, Elon Musk has a significant lead over his competitors. Before his fortune reached the $400 billion mark, he was already $140 billion richer than second-place Jeff Bezos.

Ha Trang (according to CNN)

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