Musk’s fortune explodes to over $400 billion
Elon Musk’s fortune recently passed the $400 billion mark. He is the first person whose wealth reaches this value. The increase is due to dramatic gains in Tesla shares and a revaluation of SpaceX.
Musk breaks the 400 billion barrier: record assets
The entry in the financial history books is certain: in a single day, Musk’s fortune increased by an impressive 62.8 billion US dollars. One of the reasons? Since Donald Trump was elected in November 2024, the Tesla share price has skyrocketed from under $250 to a temporary $440. This 75 percent increase impressively shows how much political events can influence company finances.
At the same time, a reassessment of SpaceX is being discussed. In recent discussions, Musk’s space venture was valued at around $350 billion, well above its previous valuation of $255 billion. According to Bloomberg (Paywall), Musk’s majority stake in SpaceX, estimated at around 54 percent, could have a significant impact on his overall wealth.
Another notable development is the growth of Musk’s artificial intelligence startup xAI, which has more than doubled in value to over $50 billion since its last funding round in May. This expansion shows that Musk is also becoming increasingly influential in the field of AI. Musk has also established himself as an important advisor to Donald Trump.
Together with former presidential candidate Vivek Ramaswamy, Musk is heading up a new department for government efficiency – the Department of Government Efficiency (DOGE). Markets expect this development to benefit both Tesla and SpaceX as they could benefit from new government contracts and a reduction in regulations.
The first trillionaire?
Recently one pointed analysis suggests that Elon Musk could potentially become the first person to exceed $1 trillion in wealth by 2027 if the high growth of his companies such as Tesla and SpaceX continues.
The increase is calculated based on the average growth rate of company values of around 110 percent in recent years. In addition, other entrepreneurs, such as Nvidia CEO Jensen Huang and Adani Group founder Gautam Adani, are also on the way to achieving this status, provided they maintain their growth rates.
Digital marketing enthusiast and industry professional in Digital technologies, Technology News, Mobile phones, software, gadgets with vast experience in the tech industry, I have a keen interest in technology, News breaking.
