The richest man in the world, Elon Musk, has made history as the first individual to surpass $400 billion in net worth.
With this development, he has not only strengthened his position as the world’s richest individual but has left other top global wealthy men such as Jeff Bezos and Mark Zuckerberg far behind.
Recall that the latest Bloomberg Billionaires Index had disclosed that Musk’s fortune has reached $447 billion.
The rating signals major growth since the US presidential election in November.
Musk’s increasing wealth has been linked to an insider share sale of his private space exploration company, SpaceX.
The company reportedly added around $50 billion to Musk’s fortune.
Also, Tesla shares reached an all-time high on Wednesday, further boosting his financial standing and advancing his business base.
Amazon founder, Jeff Bezos is a distant second on the list of the world’s richest people with a total worth of $249 billion while Mark Zuckerberg is a close third at $224 billion.
The person in the fourth position is Larry Ellison with a net worth of $198 billion and Bernard Arnault is at $181 billion.
Musk’s increasing richness marks the rising value of his ventures, especially in the electric vehicle and space sectors, as Tesla and SpaceX continue to lead their respective markets.
Musk is not only wealthy because of his well-known companies, SpaceX and Tesla. His artificial intelligence startup, xAI, has seen its valuation double to $50 billion since May.
The company focused on developing advanced AI technologies, contributed largely to Musk’s expanding financial empire.
Nonetheless, Musk’s rise to the top of global wealth rankings has not been without challenges.
A Delaware court recently struck down his record-breaking Tesla pay package worth over $100 billion, marking a rare legal defeat.
But, this setback has not been able to draw him back as he maintains his status as the world’s wealthiest person.
Leave a Comment