SpaceX and Tesla CEO, Elon Musk, has become the first person in history to reach $400 billion in net worth, after a recent insider share sale as well as the recent US elections results, reported Bloomberg.
According to the Bloomberg Billionaires Index, an inside share sale of his company SpaceX boosted the business mogul's net worth by approximately $50 billion, bringing his total net worth to $439.2 billion.
In late 2022, Musk's net worth had seen a decrease of more than $200 billion, however las month when Donald Trump was elected president, Musk saw huge gains, being one of the most influential donors and ally to the incoming administration.
Tesla Inc.’s stock has increased approximately 65 per cent since before the election, with markets anticipating that Donald Trump will streamline the rollout of self-driving cars and eliminate tax credits for electric vehicles that help Tesla’s competitors, reported Bloomberg.
Elon Musk will also play a key role in president-elect Donald Trump's administration, after being nominated as the co-head of the newly formed department of government efficiency.
