According to the Bloomberg Billionaires Index, Elon Musk’s net worth has exceeded $400 billion, marking a significant milestone for the Tesla and SpaceX CEO.
This surge in wealth follows a recent deal in which SpaceX and its investors agreed to purchase up to $1.25 billion in insider shares, valuing the company at approximately $350 billion.
This transaction boosted Musk’s wealth by around $50 billion, bringing it to $440 billion.
Musk’s fortune is primarily tied to the share price of Tesla and the valuation of SpaceX.
His wealth has seen a notable increase since Donald Trump’s victory in last month’s U.S. presidential election, with Tesla’s share price rising about 65% since then.
As a major political donor, Musk has contributed approximately $270 million to Trump’s campaign and has been a visible supporter of the former president.
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His close relationship with Trump has raised concerns about potential advantages for his businesses, particularly regarding regulatory reductions for Tesla and changes to tax credits for electric vehicles that could benefit Musk’s interests.
In a move reflecting his influence, Trump has appointed Musk to co-lead the new Department of Government Efficiency, which aims to implement significant cuts in federal spending and reduce government regulations.
