Elon Musk, CEO of Tesla and SpaceX, has seen his net worth climb to over $400 billion, according to Forbes’ real-time billionaires list. This milestone follows a remarkable 71% surge in Tesla’s stock value this year and a booming valuation for SpaceX.
Tesla shares hit a record high of $424.9 on Wednesday, continuing a rally that began after the November 5 election. Musk, who owns approximately 13% of Tesla, has benefited significantly from the automaker’s strong performance.
His wealth also got a boost from an insider SpaceX share sale. The rocket company recently facilitated a $1.25 billion common stock purchase from its employees and investors, Bloomberg reported. Musk noted on social media platform X that despite a $350 billion valuation, most investors were reluctant to sell shares.
In addition to Tesla and SpaceX, Musk helms Neuralink, The Boring Company, and X. His ventures are poised to benefit from a business-friendly policy environment under President-elect Donald Trump, whose administration Musk has actively supported.
Following Musk on the Forbes billionaire rankings are Amazon founder Jeff Bezos, with a net worth of $243.7 billion, and Oracle co-founder Larry Ellison, at $223.4 billion.