Elon Musk becomes first person with $400B net worth

By Dat Nguyen December 11, 2024 | 08:49 pm PT

Elon Musk, CEO of electric vehicle producer Tesla Motors, has become the world’s first person to reach $400 billion in net worth Thursday morning.

An insider share sale of SpaceX, which is privately owned by Musk, added $50 billion to the wealth of the richest man in the world, according to Bloomberg.

Elon Musk listens as U.S. President-elect Donald Trump addresses a House Republicans Conference meeting at the Hyatt Regency on Capitol Hill on November 13, 2024 in Washington, DC. Photo by AFP

Musk’s net worth was at $447 billion at the time of publishing, almost 80% higher than Jeff Bezos, the follow-up on the Bloomberg Billionaires Index.

The billionaire has added about $218 billion to his net worth since the start of 2024, more than any other member on the index, which tracks wealth of the 500 richest people in the world.

Tesla shares, which make up the bulk of Musk’s fortune, has surged 71% this year to the highest since 2021.

On Wednesday, space technology company SpaceX and its investors agreed to buy $1.25 billion of shares from employees and other company insiders.

The deal values the company at $350 billion, making it the most valuable private startup in the world.