Elon Musk has become the first person to reach a net worth of more than $400 billion, according to Forbes and Bloomberg.
His fortune is largely made up of stakes in electric car maker Tesla and SpaceX. Forbes magazine estimates Musk’s fortune at $431.2 billion, while financial services firm Bloomberg puts it at nearly $447 billion.
Since the US presidential election in early November, the 53-year-old has been made significantly richer by the rise in Tesla’s stock price, at least on paper. Investors are speculating that Tesla will benefit from Musk’s current closeness to US President-elect Donald Trump.
Musk, who was born in South Africa and is now a US citizen, supported Trump with millions in donations during the election campaign and will be part of the Trump administration.
Musk’s companies also include online platform X, artificial intelligence developer xAI, and brain implant company Neuralink.
In second place on the list is the founder of Amazon Jeff Bezos with a fortune estimated at more than 240 billion dollars, reports Al Jazeera.
