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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Elon Musk’s xAI has acquired his social media platform X in a $33 billion all-stock deal.
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Pentagon Meeting
Elon Musk's push to reform U.S. government spending reached new heights on Friday as he held an unprecedented meeting with Defense Secretary Pete Hegseth at the Pentagon, where discussions centered on innovation, efficiencies, and streamlining Pentagon operations.
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Mars Mission
Russia is exploring opportunities for collaboration with the United States, particularly in the space sector, and is looking to hold talks with Elon Musk’s son about potential missions to Mars, despite challenges in restoring dialogue between the two nations.
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World News
A U.S. judge has directed Elon Musk and his Department of Government Efficiency (DOGE) to provide records and answer questions about their federal spending reduction efforts. The order stems from a lawsuit filed by 14 Democratic state attorneys general, alleging constitutional violations by Musk.
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