Since the 2024 presidential election, Elon Musk has added another $100 billion to his net worth, cementing his position as the richest man in the world.
Elon Musk's net worth has risen by $100 billion since the U.S. presidential election. pic.twitter.com/EHOkQSUedc
— Brew Markets (@brewmarkets) December 10, 2024
A recent sale of shares to Musk's company, SpaceX, single-handedly added $50 billion to Musk's net worth, making him worth roughly $439.2 billion, according to Bloomberg. This signals a drastic change from 2022, when Musk lost $200 billion of his net worth at once.
Musk is the first person in history to hit a net worth of $400 billion.
"Elon Musk is now worth more than Jeff Bezos and Bill Gates combined," posted Brew Markets, the Morning Brew's daily market newsletter, to X (formerly Twitter).
Elon Musk is now worth more than Jeff Bezos and Bill Gates combined. pic.twitter.com/qdQJNNnkQe
— Brew Markets (@brewmarkets) December 11, 2024
During the 2024 election cycle Musk emerged as a huge supporter of Donald Trump, who became the president-elect last month. Musk's support of Trump, and Trump's subsequent victory, have bolstered Musk's fortune—since the election concluded, Tesla Inc.'s stock is up by 65%.
On Wednesday, CNBC reported that SpaceX agreed to purchase $1.25 billion in common shares from company insiders, valuing the company at $350 billion.
"What's really crazy about this is that almost no investors wanted to sell shares even at a $350B valuation!" Musk wrote on X. "SpaceX reduced the amount of shares it bought back from employees in order to allow some new investors in."
What’s really crazy about this is that almost no investors wanted to sell shares even at a $350B valuation!
— Elon Musk (@elonmusk) December 11, 2024
SpaceX reduced the amount of shares it bought back from employees in order to allow some new investors in.
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