Tesla CEO Elon Musk has reached another major milestone, with his net worth surpassing $400 billion. This achievement comes on the back of a significant rise in Tesla's stock this year and the growing valuation of his space exploration company, SpaceX.
Tesla CEO Elon Musk’s net worth surpassed $400 billion on December 12, according to the Forbes real-time billionaires list. The milestone was driven by a 71% surge in Tesla’s shares this year and the rising valuation of his rocket company, SpaceX.
Musk, Tesla’s largest shareholder with a 13% stake, saw the automaker's shares hit a record $424.9 on Wednesday, continuing a rally that began after the November 5 election.
His wealth was further boosted by a SpaceX insider share sale, where Musk and investors agreed to buy up to $1.25 billion in common shares, Bloomberg reported. Musk noted on X that "almost no investors wanted to sell shares even at a $350B valuation!" He added that SpaceX reduced its share buyback from employees to attract new investors.
Tesla investors are optimistic about Musk’s ties with President-elect Donald Trump, believing his influence on policy could benefit the automaker.
Beyond Tesla, Musk leads Neuralink, a brain-tech startup, and SpaceX, both of which depend heavily on government policies. Musk, who reportedly spent over $250 million to support Trump’s election, also owns social media platform X and The Boring Company, a tunnel construction firm.
Donald Trump and Elon Musk held a final press conference in the Oval Office to mark the official end of Musk’s role as head of the Department of Government Efficiency (DOGE).
Elon Musk announced Wednesday that he is leaving his role as a special adviser to President Donald Trump, ending a rocky chapter marked by major government layoffs, agency cuts, and political pushback.
Elon Musk has officially stepped down from his role in the Trump administration, bringing an end to his involvement in the Department of Government Efficiency (DOGE), a cost-cutting initiative he helped lead.
SpaceX's latest Starship launch from Texas ended in an uncontrolled spin before completing key mission goals, highlighting fresh challenges for Elon Musk’s ambitious Mars program.
The bitter public feud between tech giants Elon Musk and Bill Gates has escalated, as Gates blames Musk for cutting off aid to vulnerable populations—while Musk counters by questioning Gates’ moral authority over his ties to convicted sex offender Jeffrey Epstein.
German Chancellor Friedrich Merz will travel to Washington next week to meet U.S. President Donald Trump.
Landslides and flash floods caused by days of heavy monsoon rain have killed at least 22 people in India’s northeast, officials said.
Cambodian Prime Minister Hun Manet said Saturday that the border conflict with Thailand “must be resolved with patience and through legal and diplomatic channels.”
Iran’s Foreign Minister Abbas Araqchi spoke by phone with IAEA Director Rafael Mariano Grossi, warning that any political actions against Iran at next week’s Board of Governors meeting would have consequences.
Türkiye expressed deep sorrow Saturday over the devastating floods in Nigeria’s Niger State, which have claimed over 150 lives.
On May 28, the inauguration ceremony of Lachin International Airport was held.
A car drove into crowds of Liverpool fans celebrating the club’s Premier League title in the city centre on Monday evening, injuring dozens including 4 children. A 53-year-old man believed to be the driver was arrested at the scene.
EU ministers have greenlit a massive €150 billion defense investment fund—dubbed the Security Action for Europe (SAFE)—as the bloc ramps up its military readiness in response to Russia’s aggression and growing uncertainty over U.S. security guarantees.
Brazil’s economy is expected to have regained momentum in the first quarter of 2025, driven by a surge in household spending and private investment, according to a Reuters poll of economists conducted from May 21–26.
An international academic conference titled "Islamophobia: Exposing Prejudice and Destroying Stigma" has officially opened in the capital of Azerbaijan, bringing together global scholars, experts, and policymakers to address the rise and consequences of anti-Muslim discrimination.
President Donald Trump announced that he will increase steel tariffs from 25% to 50%, a move that could push up costs for industries relying on steel, including housing and auto manufacturing.
U.S. stocks wrapped up the week with a mixed finish after President Donald Trump accused China of breaking a recent trade agreement, reigniting global market jitters just weeks after a deal was struck in Geneva.
Volkswagen is negotiating directly with the U.S. government to ease tariffs in exchange for deeper investment commitments.
Wall Street futures slipped as a surprise court ruling brought back most of Trump-era tariffs, shaking investor confidence heading into month-end.
Model Hailey Bieber is selling her skincare brand Rhode to e.l.f. Beauty in a deal worth up to $1 billion (£790 million), with plans for international expansion and continued viral success.
German Chancellor Friedrich Merz will travel to Washington next week to meet U.S. President Donald Trump.
Landslides and flash floods caused by days of heavy monsoon rain have killed at least 22 people in India’s northeast, officials said.
Cambodian Prime Minister Hun Manet said Saturday that the border conflict with Thailand “must be resolved with patience and through legal and diplomatic channels.”
Iran’s Foreign Minister Abbas Araqchi spoke by phone with IAEA Director Rafael Mariano Grossi, warning that any political actions against Iran at next week’s Board of Governors meeting would have consequences.
Türkiye expressed deep sorrow Saturday over the devastating floods in Nigeria’s Niger State, which have claimed over 150 lives.
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