The feat was achieved after a secondary offering carried out by his company, SpaceX, which increased its equity by approximately US$50 billion
The businessman became the first person to accumulate a fortune of more than US$400 billion. This remarkable feat was achieved following a secondary offering carried out by his company, which increased his equity by approximately US$50 billion, totaling just over US$439 billion. When converted to Brazilian currency, this fortune is equivalent to around R$2,400 trillion. The significant growth in Musk’s fortune is attributed to recent events that have positively impacted his companies.
One of the factors that contributed to the increase in Musk’s fortune was the electoral victory of . As a Trump donor and political supporter, Musk was tapped to lead the newly created Department of Government Efficiency. Shares of Tesla, one of its flagship companies, have risen about 65% since before the election. This increase was driven by expectations that the new administration will speed up the rollout of self-driving cars and eliminate tax credits for electric vehicles, which would benefit Tesla over its competitors.
Furthermore, Musk’s artificial intelligence startup, X.AI, also played a crucial role in increasing his fortune. Since the last fundraising in May, the company’s value has more than doubled, reaching US$50 billion. The “Wall Street Journal” reported that Trump’s victory generated new interest in the company, contributing significantly to its increased value. This growth reflects Musk’s ability to capitalize on strategic and political developments that favor his business initiatives.
*With information from Bruno Meyer
*Report produced with the help of AI
