Elon Musk has become the first person to reach $400-billion in net worth, the latest milestone for the world’s richest person.
become the first person to reach US$400-billion in net worth, the latest milestone for the world’s richest person., which boosted South African-born Musk’s net worth by roughly $50-billion in one fell swoop to $439.2-billion, according to the Bloomberg Billionaires Index.
Musk’s fortune has staged a dramatic turnaround since late 2022, when at one point he saw his net worth drop by more than $200-billion. But it’s been especially turbocharged of late after Donald Trump’s election win last month, with Musk being his most prominent political donor and advocate.
Meanwhile, the value of his artificial intelligence start-up, xAI, has more than doubled since it last raised money in May to $50-billion, with The Wall Street Journal reporting last month that Trump’s victory helped drive new interest. On Wednesday, SpaceX and its investors agreed to purchase $1.25-billion of shares from employees and other company insiders. The deal, which values the privately held space exploration firm at about $350-billion, makes SpaceX the most valuable private start-up in the world.The company makes most of its money on contracts with the US government and can likely depend on more support under a Trump administration.
Jared Isaacman, Trump’s pick for Nasa head, is a billionaire tech executive who made the first commercial spacewalk on a chartered SpaceX launch in September. He praised the company as “the most innovative, literally impressive organisation that I’ve ever seen” last month after investing $27.5-million in SpaceX through his payments firm in 2021.
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