Elon Musk has become the first individual in modern history to amass a fortune exceeding $400 billion. This is reported by Bloomberg.
As of December 11, the total wealth of the American entrepreneur was valued at $447 billion according to the Bloomberg Billionaire Index. His closest competitor in the ranking of the world's wealthiest individuals, Amazon founder Jeff Bezos, has only $249 billion.
CNN notes that Musk gained approximately $20 billion through insider stock sales of SpaceX. Consequently, the total valuation of the space startup reached $350 billion.
Moreover, Tesla's stock prices have once again set a record. At the close of the stock markets on Wednesday, the automaker's shares traded at $424, with a market capitalization of $1.33 trillion.
In the five weeks following Donald Trump's reelection as President of the United States, Tesla's shares have increased by 65%. Additionally, Musk's AI project, xAI, achieved a valuation of $50 billion during a new investment round.
Analysts note that investors are betting on further growth of Musk's assets due to his proximity to the White House and his ability to influence the administration's decisions in key areas—such as space exploration. Following the elections, the businessman’s fortune increased by $136 billion.
According to a report by the research group Informa Connect Academy, Elon Musk may become the world's first trillionaire by 2027.
Previously, Spot reported that Trump nominated cryptocurrency supporter Paul Atkins to head the U.S. Securities and Exchange Commission.