- World’s Richest Man Adds $50 Billion Following Insider Shares Deal
Elon Musk, the CEO of Tesla and SpaceX, has seen his net worth soar past $400 billion, solidifying his position as the world’s richest person, according to the Bloomberg Billionaires Index. The milestone was reached on Wednesday after SpaceX and its investors agreed to purchase up to $1.25 billion in insider shares, valuing the company at approximately $350 billion.
The transaction added an estimated $50 billion to Musk’s wealth, bringing his total to a staggering $440 billion. Bloomberg attributes much of Musk’s fortune to the rising valuation of SpaceX and the increasing share price of Tesla.
Tesla’s stock price has surged by about 65% since last month’s U.S. presidential election, which saw Donald Trump secure victory. Musk, a prominent political donor and supporter of Trump, reportedly contributed $270 million to the Republican’s campaign. He has maintained a close relationship with Trump, even inviting him to witness a SpaceX rocket launch in Texas.
The billionaire’s close ties to the former president have raised questions about potential conflicts of interest, as Musk’s businesses interact extensively with both U.S. and foreign governments. Critics argue that this proximity could allow him to further his commercial interests under the guise of collaboration.
Despite the controversy, Musk’s companies continue to push the boundaries of innovation, cementing his influence across the automotive, aerospace, and renewable energy industries.
