Elon Musk became the first person whose personal fortune exceeded the value of 400 billion dollars (379.98 billion euros). TASR informs about it based on a Bloomberg report.
The sale of shares in Musk’s private company SpaceX took care of a new record in the Bloomberg Billionaires Index rankingwhich increased his fortune by $50 billion to $439.2 billion. After a significant decline at the end of 2022, when the value of his assets decreased by USD 200 billion, Musk’s financial rise in recent months has been extremely significant. Donald Trump’s victory in the November presidential elections became a new impetus.
Tesla shares have since risen 65 percent on expectations that approval processes for self-driving vehicles will be simplified and that rival electric car makers will lose tax breaks. The value of Musk’s artificial intelligence startup xAI rose after the election doubled to $50 billion. The tech billionaire will also take on a role in the new Trump administration, serving as co-chairman of the new Department for Government Efficiency, which will give him direct access to the White House.
