
Faith Nyasuguta
According to Bloomberg News, Elon Musk has achieved a historic financial milestone, becoming the first person to surpass a $400 billion net worth. This extraordinary accomplishment highlights the soaring valuations of his flagship ventures, Tesla Inc. and SpaceX.
A recent private sale of SpaceX shares catapulted the company’s valuation to an astounding $350 billion, adding roughly $50 billion to Musk’s fortune in a single transaction. With a 42% stake in the aerospace giant, Musk’s privately held interests have played a pivotal role in his meteoric financial ascent.
Tesla, the electric vehicle and robotics powerhouse, has also contributed significantly to Musk’s wealth. Its shares have surged nearly 70% in recent months, driven by investor optimism about regulatory changes under the Biden administration that are expected to favor green energy companies like Tesla. On Wednesday, Tesla’s stock hit a new high, pushing Musk’s fortune to an estimated $440 billion.

However, Musk’s financial dominance extends beyond corporate success. His growing influence in U.S. politics has also been a key factor. A vocal supporter of Donald Trump’s re-election campaign, Musk played a significant role in securing Trump’s second term. Federal Election Commission filings revealed that Musk spent nearly $250 million to support Trump’s 2024 bid, further solidifying his political clout.
This alignment with political power has earned Musk a role as co-head of the newly formed Department of Government Efficiency, giving him direct access to the White House and a platform to influence policies that align with his business interests.
Musk’s journey to this financial zenith wasn’t without challenges. In late 2022, his net worth plummeted by over $200 billion due to volatile markets and slumping stock prices. Yet, his ventures rebounded dramatically, solidifying his position as the world’s wealthiest individual.
Interestingly, Musk’s financial ascent continues despite a recent legal setback. A Delaware judge reaffirmed the rejection of a Tesla compensation package initially approved by shareholders, citing conflicts of interest. The deal, which Musk argues should remain in shareholders’ hands, was valued at $100 billion. Musk expressed his frustration with the ruling on X, stating: “Shareholders should control company votes, not judges.”

Forbes, meanwhile, estimates Musk’s net worth at a slightly lower $369 billion, placing him ahead of Amazon’s Jeff Bezos and Oracle’s Larry Ellison.
Musk’s wealth trajectory is further bolstered by SpaceX’s dominance as the world’s most valuable private startup. The company’s innovations in space exploration and satellite technology have positioned it as a cornerstone of Musk’s empire.
Musk’s latest milestone cements his unparalleled status in the business world, blending ambition, innovation, and a dash of controversy. From leading cutting-edge technological ventures to shaping political narratives, Musk’s influence shows no signs of waning.
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