Elon Musk, the CEO of Tesla and SpaceX, has officially crossed the $400 billion mark in net worth, a historic milestone. This surge in his fortune is largely attributed to the impressive performance of Tesla’s stock price, which has seen a significant jump since the recent U.S. election.
Adding further fuel to his wealth growth is SpaceX, which has secured a deal for investors to purchase up to $1.25 billion worth of company stock. This move has propelled SpaceX’s valuation to an estimated $350 billion, directly contributing to Musk’s increased net worth by approximately $50 billion. Bloomberg currently estimates Musk’s wealth at a staggering $440 billion.
Musk’s close alignment with Donald Trump has raised concerns about potential conflicts of interest, particularly regarding Tesla’s dominance in the electric vehicle market and the potential impact on competitors. However, Trump’s administration has responded by appointing Musk to lead a commission focused on improving government efficiency, streamlining federal budgets.
Musk’s political contributions, heavily leaning towards the Republican party, have also been unprecedented, exceeding $270 million in support of Trump’s presidential campaign. This substantial contribution has made him the single largest political donor in recent U.S. history, according to data from OpenSecrets, a non-profit organization dedicated to tracking political donations and their influence.
