Elon Musk, the world’s richest person, on Wednesday became the first to hit $400 billion ($627 billion AUD) in net worth, according to the Bloomberg Billionaires Index.
Elon Musk’s net worth surpasses $627 billion mark - a historic first - as value of Tesla, SpaceX surge
But it was an insider share sale in Musk’s privately held space firm, SpaceX, that helped push his net worth to new heights – and make his space company the most valuable private startup in the world. He has remained one of Trump’s close confidants and has been selected to lead the newly-created Department of Government Efficiency, which aims to slash federal spending – an idea of Musk’s that he floated during Trump’s campaign.
The value of xAI, Musk’s artificial intelligence startup, has more than doubled since its last fundraising round in May to $50 billion.
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