Elon Musk Becomes First $400 Billion Man in History
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Elon Musk's net worth has surpassed $400 billion, marking a historic first. This surge is attributed to a 71% increase in Tesla's stock value and a significant rise in SpaceX's valuation. Tesla shares closed at a record high of $424.88, while SpaceX's valuation reached $350 billion through a recent employee share deal.
Musk's close relationship with President-elect Donald Trump has further bolstered investor confidence. His active support during the campaign and subsequent appointment to lead the Department of Government Efficiency have positioned his ventures favorably. This political alliance is expected to benefit companies like Tesla, SpaceX, and Neuralink through anticipated deregulation and favorable government policies.
Additionally, Musk's artificial intelligence startup, xAI, has doubled its valuation to $50 billion following a new funding round. Despite a Delaware court rejecting his $101 billion Tesla pay package, Musk's wealth continues to grow, solidifying his status as the world's richest individual.
