Elon Musk's becomes first person to achieve $400 billion net worth

Tesla CEO Elon Musk, already the world’s richest man, has achieved another historic milestone by becoming the first person to reach a net worth of $400 billion. 

A $20 billion surge in wealth propelled Musk's SpaceX valuation to approximately $350 billion, while investors also poured in $1.25 billion in shares.

Business experts attributed this landmark success to the aftermath of the 2024 US presidential election, which significantly boosted Musk's wealth.

Following his alliance with U.S. President Donald Trump, Musk was appointed to oversee the Department of Government Efficiency alongside American entrepreneur Vivek Ramaswamy.

This announcement coincided with a sharp rise in the value of memecoin (Bitcoin), which soared to unprecedented heights.

Tesla shares closed at a high record on Wednesday, hitting $424.77 by market closure. It is pertinent to mention here that the NASDAQ topped 20,000 points, with Musk being the largest individual shareholder of Tesla.

Tesla's stock surged by 65% since US Election Day, as investors believed that Elon Musk's ties to the Trump administration would lead to deregulation, boosting the company's prospects.

Moreover, his artificial intelligence startup's valuation multiplied in November after a new funding round that surged to $50 billion from a few months ago, according to the Wall Street Journal.