Elon Musk's wealth skyrockets, becomes first person to surpass $400 billion

What conscionable happened? Elon Musk is nary longer conscionable nan richest personification successful nan world, he's now nan richest personification successful nan world by a very wide margin. The Tesla boss' nett worthy has reached $447 billion, making him nan first personification ever to transverse nan $400 cardinal milestone.

According to Bloomberg's Billionaires Index, Musk's nett worthy has accrued an unthinkable $218 cardinal this year. The jump is almost arsenic precocious arsenic second-place Jeff Bezos' and third-place Mark Zuckerberg's full worth: $249 cardinal and $224 billion, respectively.

Musk's luck has been boosted since nan US predetermination successful November, rising 77%. That includes a single-day emergence of $62.8 cardinal aft SpaceX and its investors agreed to acquisition arsenic overmuch arsenic $1.25 cardinal of insider shares, valuing nan abstraction exploration patient astatine astir $350 billion.

Bloomberg's Billionaires Index

Being Tesla's largest perseorangan shareholder intends that Musk has besides benefitted from nan EV's banal value reaching an all-time precocious of $424.77 this week. It's believed Musk's power complete nan Trump management will use Tesla, which has seen its banal summation 65% since nan president hit Harris. The adjacent narration pinch Trump is expected to thief Musk's different companies, too.

Artificial intelligence startup xAI, different 1 of Musk's six companies, has besides been adding to his nett worth. The institution told investors it raised $5 cardinal successful a backing information valuing it astatine $50 cardinal past month, much than doubling its worth compared to a fewer months earlier, writes The Wall Street Journal.

Earlier this month, Delaware judge Kathaleen McCormick upheld her original ruling that denied Musk his multibillion-dollar compensation package from Tesla.

The judge called nan original $56 cardinal magnitude "excessive." Based connected nan value of Tesla shares, nan package would now beryllium worthy arsenic overmuch arsenic $120 billion. Tesla said it intends to entreaty nan decision.

Interestingly, it appears that Bloomberg includes nan Tesla salary package successful its valuation of Musk. But moreover without it, he's still nan richest personification successful nan world by a agelong way.

SpaceX's Starlink work has made headlines much than erstwhile this week. First came reports that a Ukrainian-American nonprofit statement has submitted 2 filings to nan FCC objecting to nan company's connection to put different 22,488 satellites into low-Earth orbit. It cites Musk's alleged ties to Russia and nan biology effect among its reasons for opposing nan plans.

Elsewhere, constabulary successful India person sent a ineligible request to Starlink asking it to reveal nan purchaser of a Starlink Mini instrumentality that was recovered connected a vessel carrying $4.2 cardinal worthy of methamphetamine.