Musk's fortune soars past $400B, highest globally
Elon Musk has reached a net worth exceeding $400 billion, making him the richest person in the world. This is due to a significant increase in Tesla's stock prices and the sale of SpaceX shares. Musk's fortune has surged after Donald Trump's victory in the presidential election.
The net worth of Elon Musk, Tesla's CEO, has surpassed $400 billion, according to the billionaire list published by "Forbes".
This impressive growth is the result of a significant rise in Tesla's stock prices, which have increased by 71% this year. On Wednesday, their value reached a record high of CAD 406 billion. Musk owns 13% of Tesla's shares, making him the largest shareholder of the company.
Besides Tesla, Musk's fortune also grew due to an internal sale of SpaceX shares. Investors in the company bought some of its stock for CAD 1.8 billion. Musk also leads the tech startup Neuralink and owns the social media platform X and The Boring Company, which specializes in tunnel construction.
Musk at the top of the billionaire list
On the list of the world's wealthiest people, Musk surpasses Amazon's founder, Jeff Bezos, whose fortune amounts to CAD 346 billion, and Oracle's co-founder, Larry Ellison, with a net worth of CAD 318 billion.
According to Reuters, Musk's companies could benefit from his favourable relations with President-elect Donald Trump, whose campaign he supported with CAD 356 million.
Moreover, the alliance between the businessman and the 47th President of the USA poses the risk of creating a dangerous oligarchy, and due to the characters of both, it threatens "a turbulent psychodrama with global implications," assessed "Economist".
