Elon Musk’s net worth surpasses $400 billion amid Tesla and SpaceX milestones

Elon Musk, the owner or founder of seven companies, including Tesla, SpaceX, and social media platform X, has seen his estimated net worth soar past $400 billion this week, setting a new benchmark for the world’s richest person.

According to Forbes’ Real-Time Billionaires list, Musk’s wealth reached $429.2 billion after Tesla and SpaceX shares hit record highs. This positions him well above Amazon founder Jeff Bezos, with a net worth of $244 billion, and Oracle founder Larry Ellison, who holds an estimated $220 billion.

Tesla shares surged 5.9% on Wednesday to an all-time high of $425 per share. The company’s stock has climbed over 70% since the start of the year, fueled by the re-election of Donald Trump as the 47th president of the United States. In the aftermath of Trump’s victory, Tesla shares alone have gained more than 67%.

Trump’s announcement that Elon Musk and entrepreneur Vivek Ramaswamy would lead the Department of Government Efficiency (DOGE) has also influenced Tesla’s stock trajectory, signaling investor confidence in Musk’s expanding influence in both corporate and governmental roles.

Meanwhile, SpaceX’s valuation rose to $350 billion following a $1.25 billion share purchase agreement. This milestone cements SpaceX’s status as the world’s most valuable private venture, further contributing to Musk’s financial dominance.