Elon Musk Becomes First Person to Cross $400 Billion Net Worth

New Delhi, December 10, 2024:

Elon Musk, the CEO of Tesla and SpaceX, has reached an unprecedented milestone by becoming the first individual with a net worth exceeding $400 billion. According to the Bloomberg Billionaires Index, his total wealth now stands at $447 billion, with an extraordinary $62.8 billion increase in just 24 hours.

This surge in wealth has significantly widened the gap between Musk and his closest competitor, Amazon founder Jeff Bezos. Bezos, with a net worth of $249 billion, now trails far behind Musk.

A major factor behind this growth is SpaceX, Musk’s aerospace company. Recent reports indicate that SpaceX acquired $1.25 billion worth of shares, contributing approximately $50 billion to Musk’s wealth. In 2024 alone, his fortune has grown by $218 billion, highlighting the impact of his ventures.

Tesla’s stock value has seen a sharp rise, climbing 65% since the U.S. presidential election results. Market analysts suggest that investors are optimistic about potential policy changes under the new administration, which could favor Tesla and other clean energy initiatives.

A Look at Global Billionaires
While Musk leads the Bloomberg Billionaires Index, other prominent names follow. Mark Zuckerberg ranks third with $224 billion, Larry Ellison fourth with $198 billion, and Bernard Arnault fifth with $181 billion. Indian industrialists Mukesh Ambani and Gautam Adani rank 17th and 19th with $97.1 billion and $79.3 billion, respectively.

Elon Musk’s wealth milestone reflects the growing influence of technology-driven companies in the global economy. While his achievements stand out, they also raise broader questions about wealth inequality and the role of high-net-worth individuals in shaping industries and societies.