Elon Musk Creates History, Surpasses $400 Billion Net Worth. Here Is How He Did It
First Published: 12th December, 2024 17:48 IST
In comparison, Amazon founder Jeff Bezos, the second richest person in the world, has a net worth of around $250 billion.
SpaceX and Tesla owner Elon Musk has become the first person to cross a net worth of $400 billion dollar, setting a new milestone for the world’s richest person.
According to the Bloomberg Billionaires Index, Musk’s wealth surged to $447 billion dollar last month.
In comparison, Amazon founder Jeff Bezos, the second richest person in the world, has a net worth of around 250 billion dollars, an astonishing $150 billion dollars less than Musk.
Meta CEO Mark Zuckerberg ranks third with a net worth of $224 billion dollars, followed by Oracle co-founder Larry Ellison in fourth place with 198 billion dollars. French luxury goods tycoon Bernard Arnault, who was once the world’s richest man, now holds the fifth spot with a fortune of $181 billion.
So, what exactly happened? How did Musk’s net worth surpass $400 billion, and what are the implications?
According to reports, Musk’s wealth surged after SpaceX and its investors agreed to buy up to $1.25 billion worth of insider shares, valuing the company at around $350 billion.
This transaction boosted Musk’s personal fortune by approximately $50 billion, bringing it to $440 billion, said Bloomberg Report.
Musk’s net worth has soared by $218 billion since the start of 2024, more than any other member of the group. Tesla shares, which constitute the bulk of his fortune, have climbed 71% this year, reaching $424.77 on Wednesday their highest level since 2021.
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