Tesla CEO Elon Musk has become the first person in the world whose fortune has exceeded $440 billion.
As Bloomberg notes, a sharp increase was recorded last month (up 77% following the reelection of Donald Trump as US President), but the final record amount was secured thanks to the recent insider sale of SpaceX shares, which boosted Musk’s capital by another $50 billion, as well as the rise of Tesla shares to a historical high on Wednesday.
Yesterday’s one-day jump in Elon Musk’s fortune by $62.8 billion became the biggest in history and also for the first time raised the total capital of the world’s 500 richest people to over $10 trillion. Overall, since the beginning of the year, the entrepreneur has added $218 billion to his capital — more than anyone else in the billionaire ranking.
Musk, who supported Trump in the electoral race, in addition to getting richer, received a position in the administration of the future US president and will become co-chair of the Department of Government Efficiency.
Next, about the situation separately by the billionaire’s companies:
- Tesla shares have risen a total of 71% since the beginning of the year — and closed on Wednesday at $424.77.
- The value of Elon Musk’s artificial intelligence startup xAI has grown to $50 billion since the last funding round in November.
- On Wednesday, SpaceX and its investors agreed to purchase shares worth $1.25 billion from employees and other insiders of the company. The deal valued the space exploration company at approximately $350 billion — and it officially became the world’s most expensive private startup.
- The situation with Twitter is somewhat worse — according to Fidelity
Fidelity Investments is an American holding company that provides financial services and helped Musk in acquiring Twitter (currently, it values its stake in the social network at approximately $4.19 million). the company’s value fell 79% from the initial price.
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