Finance Desk – Elon Musk has just become the first person ever to have a net worth of $400 billion. This huge increase in his wealth came after his company, SpaceX, grew in value to about $350 billion due to a recent business deal. This deal involved SpaceX buying back $1.25 billion worth of its own shares from some investors.
The boost in Musk’s wealth also happened right after Donald Trump won the U.S. Presidential election last month, which has been good for Musk’s businesses. Musk runs several big companies like Tesla, SpaceX, and X, and is involved with others like Neuralink and the Boring Company. He’s also planning to lead a new government project with Vivek Ramaswamy under Trump’s administration.
Recently, the stock price of Tesla, another company Musk heads, reached its highest value ever at $424.77. Additionally, Musk’s newer company, xAI, which focuses on artificial intelligence, doubled in value to $50 billion after getting more investment, as reported by the Wall Street Journal.
