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.
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A high-powered lawyer representing Elon Musk attacked the personal and professional credibility of OpenAI CEO Sam Altman on Thursday, as a landmark federal trial in California nears its conclusion.
A federal judge on 7 May ruled that the Trump administration’s cancellation of hundreds of humanities grants under the Department of Government Efficiency (DOGE) was unconstitutional and amounted to “blatant viewpoint discrimination”.
Start your day informed with the AnewZ Morning Brief. Here are the top stories for the 29th of April, covering the latest developments you need to know.
Elon Musk took the stand on Tuesday (28 April) at a high-stakes trial over the future of OpenAI, casting his lawsuit against the ChatGPT maker as a defence of charitable giving.
Bulgaria has won the Eurovision Song Contest for the first time, taking victory in a final overshadowed by a boycott over Israel’s participation and the war in Gaza.
At least eight people were injured after a driver rammed a car into pedestrians in the northern Italian city of Modena, authorities said on Saturday. Four of the victims were reported to be in serious condition.
U.S. President Donald Trump said Washington could destroy Iran’s infrastructure “in two days,” while Tehran warned the U.S. would face growing economic costs from the conflict. The remarks came as Hezbollah reported new attacks on Israeli forces despite an extended Lebanon ceasefire.
At least eight people have died and 32 others were injured after a freight train collided with a public bus at a railway crossing in Bangkok on Saturday (16 May), triggering a fire that quickly spread through the vehicle.
U.S. President Donald Trump says China's Xi Jinping agreed Iran must reopen the Strait of Hormuz, as Tehran prepares a new shipping mechanism. Tensions over the U.S. blockade and stalled nuclear talks continue to disrupt global oil supplies.
Negotiations between Samsung Electronics and its workforce on Wednesday have broken down, officials said, raising fresh concerns over potential disruption to South Korea’s export-heavy economy.
By the time American shoppers began noticing higher prices on everything from trainers to televisions, the world's two largest economies were already deep in a trade war that left the world wondering how it would end.
The Strait of Hormuz remains a vital maritime chokepoint and serves as the primary artery linking the Persian Gulf to international energy markets. With approximately 20% of global oil and gas shipments transiting this waterway, it is the backbone of energy security for Asia, Europe, and beyond.
China’s exports grew faster than expected in April, as overseas buyers moved quickly to secure supplies amid fears that the conflict involving Iran could drive up global energy and transport costs.
Asian stocks surged to record highs on 7 May as investors priced in growing hopes of a potential Middle East peace deal, while oil prices eased and the U.S. dollar weakened amid shifting global risk sentiment.
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