Elon Musk’s net worth tops $400 billion, a historic first

Tesla and SpaceX boss Elon Musk’s net worth has surpassed $400 billion, according to the Bloomberg Billionaires Index, setting a new milestone on Wednesday (Dec. 11, 2024) for the world’s richest person.

The business news outlet reported that the jump in wealth came after SpaceX and its investors agreed to purchase as much as $1.25 billion of insider shares in a transaction that valued the rocket and satellite company at about $350 billion.

Bloomberg said the transaction increased Musk’s personal wealth by about $50 billion to $440 billion.

Musk has been a prominent political donor and advocate for Trump, pumping a staggering $270 million into the Republican’s campaign.

He has been an ever-present sidekick for Trump since his election victory, inviting him to watch a rocket launch in Texas by his SpaceX company.

Musk’s businesses all have varying degrees of interaction with US and foreign governments, and his proximity to Trump has raised concerns that Musk will be able to take advantage of his interests.