Elon Musk has become the first public figure to achieve an unprecedented level of net worth of $400 billion. This feat, confirmed by Bloomberg and Forbes, places Musk as a magnate and business icon developer of the century. With his business value already skyrocketing, he had even more success across his primary companies Tesla, SpaceX, and xAI.
While the news is historic, it didn’t stop fans from poking fun at Musk for being stingy to part with a few bucks for their upgrades. From jokes about people owing their lunch money to sarcastic posts begging for help for a place to pay rent, Musk’s recent achievement went viral. A cheeky post from an X (formerly Twitter) user said: "And he still can’t let me borrow some for a new PC smh."
Another user said: "Can I borrow a million? Would be mighty neighborly of you and I would appreciate it. Thank you."
A user suggested: "He really should just give us all a billion, low-key."
A user humorously stated: "My premium subscription helped him!"
Meanwhile, this user is not jealous at all.
Also,
He should really start uploading his reaction videos or else we will just assume this.
Elon Musk’s $400 billion milestone
Well, how did Elon Musk write history this time? Bloomberg says that one of them was a huge share buyback from SpaceX. With this transaction, employees and insiders could effectively sell their stocks. This placed the value of the private aerospace firm at $350 billion. The net worth of Musk also went up by $50 billion practically overnight, for he owns 42% of SpaceX.
However, Tesla remains the standout brand in Musk’s financial empire portfolio. Established to produce electric vehicles, Tesla has seen its stock price rise as high as $424.77 per share, which is up by 71% in 2024. This rise was especially driven by the post-election rally observed in the markets. Support for President-elect Donald Trump, which Elon Musk actively showed seemed to contribute to the increase in investors.
And it doesn’t stop there. Acquisition of Artificial Intelligence xAI is also giving Musk ripples as he enters into the AI space. That has reportedly taken the firm’s overall value to $50 billion, further boosting the already eye-watering wealth of Musk.
If you thought these numbers were wild, brace yourself: Elon Musk on December 11, 2024, reached the highest one-day wealth gain of $62.8 billion. Exactly right – his fortune increased with more than the GDP of most countries in one day. Tesla and SpaceX handed this historic dose, whereby SpaceX’s buyback and Tesla’s skyrocketing stock price were the main culprits.
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To really set the scene, this isn’t the first time Elon Musk has blown it out of the water in terms of wealth. In the year 2021, he became the first individual to surpass the $300 billion mark. Today, Elon Musk is in a league of his own while the second, Jeff Bezos, is close, but not quite at the same level amassing only $244 billion.
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