Elon Musk, the worlds richest individual, has just hit an even higher milestone after his net worth reached $400 billion. This achievement makes him the first-ever individual to reach that landmark, with his net worth primarily coming from his rocket company, SpaceX, and Tesla. This milestone came in the aftermath of the 2024 45th US presidential elections.

A Leader with Innovative Thinking

Musks strategic ability and innovative approach have played a significant role in impacting his net worth. His ability to envision and execute his groundbreaking projects, such as Tesla, the largest EV manufacturing company, and SpaceX, has driven massive growth.

His investments in emerging technologies like artificial intelligence with XAI and brain-computer interfaces like Neuralink have also positioned him in the forefront of multiple high-tech industries.

Moreover, his influence in the share market through his active presence on social media and political collaboration with US President-elect Donald Trump in the Department of Government Efficiency has also played a role in boosting his stock valuations.

Behind his approx. $20 billion jump in his career was due to his rocket companys increased valuation to around $350 billion, the reports said. SpaceX and its investors bought $1.25 worth of insider shares.

How Trumps Actions Are Benefitting Musks Business

Meanwhile, SpaceX has not responded to any of the reports yet. The reports have also stated that the US Presidents victory in the presidential elections has somehow contributed to Musks historic achievement. As following Trumps win, Teslas stock price observed a surge of 60%, which has significantly raised Elon Musks worth.

This is because Elon Musk owns a significant share in both SpaceX and Tesla. The surge in his net worth comes from Trumps political actions and policies that have positively impacted the stock market, benefitting Musks business.

Further, Elon Musk and President Donald Trumps alliance on various ventures has also brought widespread attention.

Musk and US businessman Vivek Ramaswamy are now leading the Department of Government Efficiency. This step will be helpful in reducing the governments spending and bureaucracy and would also streamline federal operations and cut wasteful expenditures.

As a top advisor to Trump, Elon Musk has also made a significant contribution in influencing the US administrations approach to EVs (electronic vehicles). He has also contributed to shaping the new policies that could benefit Tesla, the largest EV manufacturer in the US.

Musks SpaceX has also been acquiring benefits from the government contracts. While Musk himself is also influencing the national artificial intelligence policies.

Further, the Boring Company, owned by Musk, is another venture that could observe increased opportunities for carrying infrastructural projects under Trumps new administration.

Skyrocketed Wealth to $400 Billion

Additionally, the worlds richest man, Musk, is now $136 billion richer than on November 5, 2024, the reports revealed. As of December 10, 2024, his wealth has skyrocketed to $400 billion, making him the richest individual globally. He was already $140 billion richer than the worlds second richest man on the earth, the Amazon founder Jeff Bezos.

Since the beginning of the year 2024, Musk has added $218 billion to his net worth. Tesla shares are reportedly turned out to be responsible for his fortune, which has gained 71% from shares this year, and closed at $424.77 as of Wednesday, December 11, 2024.