Musk becomes the first person worth $400 billion

The richest person in the world has achieved another historic moment.

Elon Musk's net wealth has reached $400 billion, according to Bloomberg, making it the first person in history to exceed that figure.

After increasing wealth of nearly $20 billion stands an agreement that raised the value of the missile company SpaceX to about $350 billion, Bloomberg reported.

SpaceX and its investors agreed to buy up to $1.25 billion in domestic shares.

Since the American presidential election, Musk has experienced a huge increase in wealth, writes Knn.

An alliance with President-elect Donald Trump has pushed his companies forward. Musk is the chief executive of Tesla and SpaceX, as well as the owner of the X and head of other enterprises, including Neuralink, xAI and The Boring Company. Now, along with Vivek Ramaswamy, it will oversee a “Government Efficiency Department” (DOGE), named after a meme coin.

Tesla's shares rose to a new record $415 on Wednesday. Since Election Day, shares of electric vehicle producers have increased by about 65 per cent, due to investor confidence that Musk's influence on the Trump administration will bring a new era of re-regarding that will benefit companies. Musk is Tesla's largest individual shareholder.

His Startup of artificial intelligence, XAI, also doubled the value in November during a new round of financing, increasing to $50 billion, according to the Wall Street Journal.

The world's richest man is now about $166 billion richer since November 5th, according to Bloomberg Millennium Index.

As the first countries in the billionaire index are usually changed, Musk is leaving behind wealthy rivals. On December 10th, before his wealth increased to 400 billion dollars, he was already $140 billion richer than the second richest person in the world, the founder of Amazon Jeff Bezos.