Elon Musk has made history as the first person to reach a staggering $400 billion net worth, nearly doubling the fortune of Jeff Bezos, the second-wealthiest person, who stands at $248 billion.
The Tesla CEO was already the world's richest person. The Bloomberg Billionaires Index said Musk's fortune has increased 77% since the November election to $447 billion. That's more than Bezos and Bill Gates combined.
Musk, 53, got a one-day bump of $62.8 billion, in part, from an insider share sale at SpaceX that valued the privately held space exploration startup at about $350 billion. Shares of Tesla - which has a battery factory east of Reno, Nevada - also rallied to a record high Wednesday. Tesla stock accounts for most of Musk's wealth.
According to Bloomberg, Musk has added about $218 billion to his net worth since the beginning of 2024.
Musk's wealth stems from a portfolio of groundbreaking companies. Tesla, his electric vehicle powerhouse, dominates the global EV market while pioneering advancements in autonomous driving. SpaceX has redefined space exploration, securing NASA contracts and launching the Starlink satellite network to provide global internet coverage.
His other ventures, such as Neuralink, incorporated in Nevada, and the Boring Co., which built the Las Vegas Loop, push the boundaries of brain-computer interfaces and underground transportation.
Musk was born in South Africa but is currently a resident of Texas.
Last month, he reportedly purchased a mansion in Austin for his 11 children, along with adjoining properties for two of the three mothers of his children. He also has a tiny home in Boca Chica, which is the home to SpaceX headquarters.
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Eren Ozmen: Chairwoman, president and majority owner of Sparks-based aerospace and defense company Sierra Nevada Corp., $4 billion
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Andrew Cherng: Co-founder with his wife, Peggy Cherng, of fast-food chain Panda Express, $3.7 billion
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