By Daily Mail (U.S.) | Created at 2024-12-11 22:11:55 | Updated at 2024-12-22 18:49:27
1 week ago
Elon Musk has become the first person in history to record a net worth of $400billion, according to the Bloomberg Billionaires Index.
About a quarter of the money has come in since Donald Trump was elected.
The sum is mind-boggling -fueled by a boost of $50billion seen Wednesday after an inside share sale of Musk's SpaceX.
In terms of value, it's the equivalent of at least 400 of Trump's Mar-a-Lago mansions, which the president-elect estimated in a 2023 deposition to be worth around $1billion.
Further aiding the rapid rise was a boost in share price for his other firm Tesla, which saw it reach an all-time high of $415.
The perfect storm of developments saw him put distance between him and other billionaires he's already surpassed - like Jeff Bezos, Mark Zuckerberg and Larry Ellison, not to mention Google founders Larry Page and Sergey Brin.
Each boast a net worth around half that of Musk, who is poised to clean house while co-leading President-elect Donald Trump's newly created Department of Government Efficiency (DOGE).
Meanwhile, Musk's space company currently has the most valuable private startup in the world, and recently called on officials to approve an increase to its number of launches to 120 a year by 2026, according to the LA Times.
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Elon Musk has become the first person in history to record a net worth of $400billion, according to the Bloomberg Billionaires Index. A quarter of the money has come in since Donald Trump was elected
The sum is mind-boggling -fueled by a boost of $50billion seen Wednesday after an inside share sale of SpaceX. In terms of value, it's the equivalent of at least 400 of Donald Trump's Mar-a-Lago, which the president-elect estimated in a deposition to be worth around $1billion
Just a few weeks ago, the firm started by Musk in 2002 launched a Falcon 9 rocket to successfully put nearly two dozen satellites into orbit toward the International Space Station.
Back in 2011, not long after the first-ever SpaceX launch that year, the firm's founder, chief executive officer and chief technology officer of the company and then Lt. Gov. Gavin Newsom forecast a new age of space exploration.
'Lompoc has had a very long relationship with the space industry and this is just the next chapter,' said then-Mayor of Lompoc John Linn at the time. 'We look forward to helping (SpaceX).'
The promise has since been kept - with more than 100 private launches from the firm this year alone.
All required approval from the federal government, and 25 percent of the launches carried materials for the US military.
Musk, however, has stopped short of allowing US-aligned countries like the Ukraine the utilize the technology - refusing a request to lend data from them in their in 2022.
At the time, Musk lost between $180 billion and $200 billion as Tesla’s stock sank following the pandemic. As of Wednesday, his wealth had reportedly reached $439.2 billion - further solidifying his status as the most successful man in the world.
Further aiding the rapid rise was a boost in share price for his other firm Tesla, which saw it reach an all-time high of $415.
The perfect storm of developments saw him put distance between him and other billionaires he's already surpassed - like numbers 2 and 3, according to Bloomberg, Jeff Bezos and Mark Zuckerberg, both of whom have a net worth of about half of that of the SpaceX boss
SpaceX F9 steaks across the west coast after a successfully launched of a Falcon 9 rocket from the then-Vandenberg Air Force Base in 2018. Like Tesla, the company has grown exponentially over the past decade, sending more satellites into space by the year
Musk, 53, donated $250million to the Republican's campaign, and is now set to federal spending with newly named DOGE co-leader Vivek Ramaswamy. The pair visited Congress on Thursday to discuss those plans. Musk carried his son on his shoulders during the visit
This time last month, his net worth surpassed $300billion - paving the way for a 33 percent spike in the span of a month, seen since Trump's decisive win over Kamala Harris.
Immediately afterwards, the South African was spotted at Trump's sprawling Florida compound over the course of several days, as it becomes increasingly clear he's become one of the politician's most powerful confidantes.
Musk, 53, donated a massive $250million to the Republican's campaign, and is now set to federal spending with newly named DOGE co-leader Vivek Ramaswamy.
The pair visited Congress on Thursday to discuss those plans, which, as of writing, remain under wraps.
