Elon Musk: Elon Musk has become the first person in the world to have a net worth of 400 billion dollars. No one has ever achieved this before. According to a Bloomberg report, Musk’s net worth jumped by 50 billion dollars in one go due to insider trading sales in SpaceX. After the stock market closed and Tesla shares rose, Musk’s wealth increased further.
According to the Bloomberg Billionaires Index, Musk’s net worth rose by 62 billion dollars on Wednesday, reaching a total of 447 billion dollars. Tesla’s stock has seen good growth. Since December 4, Tesla’s shares have risen by more than 72%.
Increase of 62 billion dollars in wealth
The Bloomberg report mentions that on Wednesday, SpaceX and its investors agreed to buy 1.25 billion dollars’ worth of shares from company insiders and employees. After this deal, SpaceX’s valuation reached 350 billion dollars, making it the largest private startup in the world. This deal led to an increase of 50 billion dollars in Musk’s net worth. Additionally, the rise in Tesla’s shares added another 12 billion dollars to Musk’s wealth. As a result, Musk’s total wealth grew by 62 billion dollars in one day, reaching 447 billion dollars.
A rise of 183 billion dollars
Musk’s wealth has seen a significant increase since Donald Trump’s presidential victory. On November 5, Musk’s net worth was 264 billion dollars. Now, it has surpassed 447 billion dollars, meaning an increase of 183 billion dollars in a short period. So far this year, Musk’s wealth has grown by more than 200 billion dollars. According to the Bloomberg Billionaires Index, Musk’s net worth was 126 billion dollars on July 1, 2023. In just about a year and a half, his wealth has increased by 255%, or 3.55 times.
Tesla shares at record levels
Tesla shares have also been rising steadily. On Wednesday, Tesla’s stock reached a lifetime high, climbing 6% to 424.88 dollars. Since November 4, Tesla’s stock has seen significant growth. On November 4, the stock was priced at 242.84 dollars, but it has increased by 75% since then. After the U.S. stock market closed, Tesla shares finished the day with a 5.93% rise, closing at 424.77 dollars.
Targeting 500 billion dollars
Now, Musk’s eyes are set on reaching 500 billion dollars before the end of the year. He has more than 15 days to reach this target and needs just 53 billion dollars more. This means Musk’s wealth needs to grow by about 2.76 billion dollars a day on average. However, since November 5, Musk’s wealth has been increasing by around 5 billion dollars a day on average. So, it is likely that Musk will easily reach the 500-billion-dollar mark by the end of the year.
