Elon Musk becomes first person to reach $400 billion net worth

Dec 11, 2024

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Karah Rucker Anchor

By Karah Rucker (Anchor), Jodie Hawkins (Senior Producer), Michael Edwards (Video Editor)

Elon Musk, the world’s richest person, just got even richer. He’s now the first person ever to reach a net worth of $400 billion, according to a new estimate from Bloomberg News, which attributes Musk’s skyrocketing wealth to the value of his companies, SpaceX and Tesla.

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Tesla shares hit a new all-time high of $415 on Wednesday, Dec. 11, which Bloomberg said pushed Musk’s net worth to around $440 billion.

Earlier this week, the private sale of SpaceX shares increased the firm’s market cap to around $350 billion. This made SpaceX the most valuable private startup in the world, with Musk owning 42% of it.

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Meanwhile, the value of his artificial intelligence startup, x.AI, has more than doubled since it raised $50 billion in May. The Wall Street Journal reported that President-elect Donald Trump’s victory helped drive new interest.

Investors expect Musk’s companies to keep benefiting from his relationship with Trump.

Earlier this month, a judge reaffirmed a ruling that rejected a pay package for Musk now valued at more than $100 billion. The package had already been approved by Tesla shareholders.

Musk called the decision “absolute corruption,” and Tesla said it would appeal.

Even if Musk doesn’t get the compensation, he would still be the richest person in the world, ahead of Jeff Bezos and Mark Zuckerberg.

Tags: AI, Artificial Intelligence, billionaire, Donald Trump, Elon Musk, Generative AI, OpenAI, shareholder, SpaceX, Stocks, Tesla

[Karah]

ELON MUSK … THE WORLD’S RICHEST PERSON … JUST GOT EVEN RICHER.

BECOMING THE FIRST PERSON EVER TO REACH A 400 BILLION DOLLAR NET WORTH.

THAT’S ACCORDING TO A NEW ESTIMATE FROM BLOOMBERG NEWS, WHICH ATTRIBUTES MUSK’S SKYROCKETING WEALTH TO THE VALUE OF HIS COMPANIES SPACE-X AND TESLA.

TESLA SHARES HIT A NEW ALL-TIME HIGH OF 415 DOLLARS WEDNESDAY … WHICH BLOOMBERG SAYS PUSHED MUSK’S NET TO AROUND 440 BILLION DOLLARS.

EARLIER THIS WEEK … THE PRIVATE SALE OF SPACE X SHARES INCREASED THE MARKET CAP OF THE FIRM TO AROUND 350 BILLION DOLLARS MAKING IT THE MOST VALUABLE PRIVATE STARTUP IN THE WORLD, WITH MUSK OWNING 42 PERCENT OF IT.

MEANWHILE, THE VALUE OF HIS ARTIFICIAL INTELLIGENCE STARTUP, X-A-I, HAS MORE THAN DOUBLED SINCE IT RAISED 50 BILLION DOLLARS IN MAY … WITH THE WALL STREET JOURNAL REPORTING THAT PRESIDENT ELECT DONALD TRUMP’S VICTORY HELPED DRIVE NEW INTEREST.

AND … INVESTORS EXPECT MUSK’S COMPANIES TO KEEP BENEFITING FROM HIS RELATIONSHIP WITH TRUMP.

ALTHOUGH, EARLIER THIS MONTH … A JUDGE REAFFIRMED A RULING THAT REJECTED A PAY PACKAGE FOR MUSK NOW VALUED AT MORE THAN 100 BILLION DOLLARS, WHICH HAD ALREADY BEEN APPROVED BY TELSA SHAREHOLDERS.

MUSK CALLED THE DECISION “ABSOLUTE CORRUPTION” WITH TESLA SAYING IT WOULD APPEAL.

EVEN IF MUSK DOESN’T GET THE COMPENSATION, HE WOULD STILL BE THE RICHEST PERSON IN THE WORLD — AHEAD OF JEFF BEZOS AND MARK ZUCKERBERG.

FOR SAN – I’M KARAH RUCKER.

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