Elon Musk has become the first person in history to amass a fortune of more than $400 billion.
His net worth now stands at around $440bn (£345bn), according to the Bloomberg Billionaires Index, more than Microsoft founder Bill Gates and Amazon’s Jeff Bezos combined.
Musk’s fortune soared in the weeks following Donald Trump’s victory in the US presidential election.
During the campaign, the owner of X was a major political donor and supporter of his fellow billionaire, and is expected to wield considerable influence when Trump takes office in January.
Elon Musk has become the first person in history to amass a fortune of more than $400 billion.
Tesla is a major part of Musk’s overall wealth. Its 12.8 percent stake in the business alone is worth nearly $172 billion.
Shares of electric car company Tesla, where Musk, 53, is chief executive, have risen about 65 percent since the election, amid hopes that Trump will eliminate tax credits that have helped competitors in the industry.
And the enthusiasm showed no signs of abating last night, as shares hit another all-time high around $420.
Tesla is a major part of Musk’s overall wealth. Its 12.8 percent stake in the business alone is worth nearly $172 billion.
In another boost for Musk, investors agreed earlier this week to buy $1.25 billion worth of SpaceX shares, valuing his rocket and satellite company at around $350 billion.
He is also expected to use his co-leadership of the planned Department of Government Efficiency to push for beneficial changes.
In another boost for Musk, investors agreed earlier this week to buy $1.25 billion worth of SpaceX shares, valuing his rocket and satellite company at around $350 billion, making it the world’s most valuable startup. .
The increase is a notable turnaround for Musk, whose fortune fell to $137 billion two years ago.