Elon Musk Makes History as the First Person to Exceed $400 Billion Net Worth, According to Bloomberg

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Elon Musk’s net worth has surpassed $400 billion, making him the first person ever to reach this milestone, according to Bloomberg News. The majority of Musk’s wealth comes from his privately held stake in SpaceX, which saw its value increase to around $350 billion in a recent private sale of shares. Musk also owns 42% of the rocket company. Additionally, the value of Tesla shares has been soaring, further boosting Musk’s wealth to around $440 billion. Despite some fluctuations in Tesla’s share price, Musk has consistently held the title of the world’s wealthiest person since May. Forbes estimates Musk’s net worth to be around $369 billion, with Amazon founder Jeff Bezos and Oracle founder Larry Ellison following behind. Musk’s net worth has climbed even without a rejected compensation package from Tesla, which is worth $100 billion. Musk expressed disagreement with the ruling on the compensation arrangement, stating that shareholders should have control over company votes, not judges. In terms of political spending, Musk spent nearly a quarter of $1 billion on helping elect Donald Trump to a second term as president in the 2024 election.

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