The CEO of Tesla and SpaceX, Elon Musk, has seen his net worth exceed $400 billion, according to the Bloomberg Billionaires Index, marking a new record for the world’s richest individual.
This surge in wealth came after SpaceX and its investors agreed to purchase up to $1.25 billion in insider shares, valuing the rocket and satellite company at approximately $350 billion.
The transaction boosted Musk’s personal wealth by around $50 billion, bringing it to $440 billion, as reported by Bloomberg.
Musk’s wealth, primarily driven by Tesla’s stock price and the valuation of SpaceX, saw a significant increase following Donald Trump’s victory in the recent US presidential election.
Since November, Tesla’s stock has risen by about 65%.
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