Elon Musk's Net Worth Reaches Record $400 Billion - Is Donald Trump A Factor?

World's richest person Elon Musk has reached a historic milestone with his net worth hitting $400 billion, according to Bloomberg. Since president-elect Donald Trump's victory in the US election last month, Musk's wealth witnessed a significant boost.

As per the Bloomberg Billionaires Index, Musk's net worth saw a $50 billion jump due a recent insider share sale of his privately held SpaceX. Reportedly, SpaceX and its investors agreed to purchase as much as $1.25 billion of insider shares in a transaction that valued the rocket and satellite company at about $350 billion. It made SpaceX the most valuable private startup in the world, report said.

"What’s really crazy about this is that almost no investors wanted to sell shares even at a $350B valuation," Musk posted on X, reacting to the news.

"SpaceX reduced the amount of shares it bought back from employees in order to allow some new investors in," he added.

On Wednesday, Tesla Inc. shares also rallied to an all-time high, boosting Musk’s fortune to a whopping $447 billion. Tesla's share price is up by about 65 per cent since the US election in November. Musk has been a prominent advocate for Trump and reportedly injected $270 million into the Republican's campaign. Musk will now also co-head newly established Department of Government Efficiency, tasked with implementing billions of dollars in federal spending cuts and reducing bureaucratic red tape.

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The report also revealed that Musk's single-day wealth increase of $62.8 billion marks the largest on record. It also boosted the collective net worth of the world’s 500 richest individuals to over $10 trillion for the first time.

Musk's Family Concerns

Musk believes that having kids should be considered a national emergency, which somewhat aligns with republican candidates like Trump and JD Vance who made headlines for scolding "childless cat ladies."

Musk himself has 11 children from his three partners.

Elon Musk and his first wife, Justine Musk, had five children using IVF before they divorced in 2008. These include twins and triplets.

Musk later twice married and divorced actress Talulah Riley. Reportedly, the reason of their break up was Riley's desire for a career in acting instead of bearing children.

In 2020, Musk and Boucher, who began dating in 2018, welcomed their first son named X Æ A-Xii, commonly referred to as X.

Later on, Musk had more children with Boucher and Zilis and this equation created complications at multiple times as well.

According to a report from International New York Times, in 2021, Musk donated sperm to Zilis without Boucher's knowledge who was also expecting a second child with the billionaire conceived via IVF but carried by a surrogate. Weeks before Boucher's girl child was born in late 2021, Zilis had twins from Musk.

The tensions among them have flared on social media at times as well.