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World’s richest person Elon Musk’s net worth topped $400 Billion, making him the first person ever to touch the historic milestone.
Tesla CEO Elon Musk (AP Image)
Elon Musk, the world’s richest person and Tesla CEO, touched another milestone as his net worth reached $400 billion, according to Bloomberg. The latest mark made him the first person to ever cross the figure.
His nearly $20 billion jump in wealth was due to a deal that hiked Musk’s rocket company SpaceX’s valuation to around $350 billion, Bloomberg reported on Tuesday.
SpaceX and its investors made to agreement to buy $1.25 billion of insider shares.
The development comes as Donald Trump’s victory in the US Presidential Polls last month delivered a huge surge in Musk’s personal wealth.
His backing of Donald Trump has boomed his ventures in the last few weeks. He is the CEO of Tesla and SpaceX, as well as the owner of X and CEO of other ventures, including Neuralink, xAI, and the Boring Company.
He will oversee a new ‘Department of Government Efficiency’ along with Vivek Ramaswamy in the new Trump administration.
Tesla’s shares closed at a record high on Wednesday (local time), touching $424.77 at the closing time.
Musk’s artificial intelligence startup xAI, also witnessed a double jump in value in November amid new funding round, rising to $50 billion from some months ago, according to the Wall Street Journal.
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Washington D.C., United States of America (USA)
