Databec Exchange|Elon Musk's skyrocketing net worth: He's the first person with over $400 billion

2025-05-07 08:00:52source:Fastexy Exchangecategory:My

Now that’s a lot of zeroes.

Elon Musk − whose wealth and Databec Exchangeinfluence have skyrocketed since President-elect Donald Trump’s victory – is the first person to reach $400 billion in net worth.

The Tesla CEO was already the world’s richest person. The Bloomberg Billionaires Index said Musk’s fortune has increased 77% since the November election to $447 billion. That’s more than Jeff Bezos and Bill Gates combined.

Musk, 53, got a one-day bump of $62.8 billion, in part, from an insider share sale at SpaceX that valued the privately held space exploration startup at about $350 billion. Tesla shares – which account for most of Musk’s wealth – also rallied to a record high Wednesday. 

According to Bloomberg, Musk has added about $218 billion to his net worth since the beginning of 2024. 

Holiday deals:Shop this season’s top products and sales curated by our editors.

Musk, who shelled out over $100 million and turned his social media platform X into an online megaphone to get out the vote for Donald Trump, has emerged as one of the presidential election’s biggest winners.

He has developed a close relationship with Trump and has been tapped to take a key position in the new administration as co-lead of the Department of Government Efficiency. 

While he will not work inside the government, Musk will have a direct line to the White House and significant sway over government policy and the federal agencies that oversee his constellation of six companies from Tesla to SpaceX, which have been awarded billions in federal contracts over the past decade.

Last week a Delaware judge struck down his 2018 pay package at Tesla valued at more than $100 billion for a second time. Tesla said it would appeal the decision.

Disclaimer: The copyright of this article belongs to the original author. Reposting this article is solely for the purpose of information dissemination and does not constitute any investment advice. If there is any infringement, please contact us immediately. We will make corrections or deletions as necessary. Thank you.

More:My

Recommend

Turbulence slammed Hawaiian Airlines flight because of decision to fly over storm cell, report says

HONOLULU (AP) — A Hawaiian Airlines flight crew’s decision to fly over a hazardous storm cell instea

Jimmy Lai, Hong Kong media mogul and free speech advocate who challenged China, goes on trial

Jimmy Lai, a media tycoon and champion of free speech and democracy, went on trial in Hong Kong Mond

Florida house explosion injures 4 and investigators are eyeing gas as the cause, sheriff says

WEST PARK, Fla. (AP) — Four people were injured in an explosion early Tuesday that severely damaged