Elon Musk Becomes the World’s First $400 Billion Man – A New Era of Wealth

New Delhi (The Uttam Hindu): Elon Musk, the world's richest person, has achieved a remarkable milestone as his net worth surpasses $400 billion (approximately Rs 33,938 crores). According to the Bloomberg Index, Musk is the first individual to reach this staggering financial mark. This achievement is largely driven by the sale of insider shares in his aerospace company, SpaceX, which alone adds $50 billion to his net worth.

SpaceX Becomes the Most Valuable Startup in the World

As per Bloomberg's report, SpaceX recently purchased $1.25 billion worth of shares from its employees and insiders, bringing the company's valuation to a groundbreaking $350 billion. This move has propelled SpaceX to become the world’s most valuable private startup. Following this deal, Musk’s net worth surged to $439.2 billion.

Trump’s Victory Fuels Musk's Wealth

Elon Musk has also benefited from Donald Trump’s return to political power. Musk, an outspoken supporter of Trump during the presidential election, even hosted public rallies in support. Following Trump's victory, Tesla's stock has soared by 65%, reaching an all-time high of $415. Investors are optimistic that the Trump administration will lift taxes on self-driving car companies, which would significantly benefit Tesla. Since November 5, Musk’s net worth has surged by $136 billion, bolstered by Tesla's soaring stock prices. Trump has also been given a prominent role in the new government, further fueling investor optimism.

xAI Valuation Doubles

In addition to SpaceX and Tesla, Musk’s AI venture, xAI, has seen its valuation double after its latest funding round. When the company raised funds in May, its valuation stood at $50 billion, reflecting the growing interest and potential in Musk’s AI projects.

Elon Musk's net worth and business empire continue to grow at an extraordinary pace, with SpaceX, Tesla, and xAI leading the charge.