Elon Musk becomes the first person to reach a net worth of $400 billion
Posted: Dec 12, 2024
- Elon Musk reached a $400 billion net worth, the first person to reach that milestone
- SpaceX valuation raised to roughly $350 billion with a $1.25 billion insider shares purchase deal
- Tesla stock reached a record high of $424.77, up 65% since Election Day
- Musk's xAI artificial intelligence startup doubled in value to $50 billion in November
- Musk is now $136 billion richer since November 5, surpassing Jeff Bezos
- Tesla-shareholder-approved $101 billion pay package rejected by a Delaware court, now worth up to $120 billion
- Elon Musk has reached a net worth of $400 billion, making him the richest person in the world.
- His wealth surged by nearly $20 billion due to a deal that raised SpaceX's valuation to roughly $350 billion.
- Musk has seen a surge in personal wealth since the aftermath of the 2024 US presidential election.
- He is the CEO of Tesla and SpaceX, owner of X, and CEO of ventures like Neuralink and xAI.
- Tesla shares hit a record high at $424.77, benefiting from a broader market uptick and investor belief in Musk's influence.
- Musk's artificial intelligence startup, xAI, also more than doubled in value to $50 billion.
- Musk's wealth has increased by roughly $136 billion since November 5.
- His record-breaking Tesla-shareholder-approved pay package worth $101 billion was rejected by a Delaware court.
- Despite setbacks, Musk is expected to continue gaining wealth in the future.
What do people on Reddit think?
🚨 Reddit sentiment: mixed/negative - Comments reflect admiration for Musk's wealth growth and strategic decisions but also include criticism of wealth inequality and skepticism about sustainability, resulting in an overall mixed/negative sentiment. Summarized comments: - Elon Musk has increased his net worth significantly, surpassing the GDP of many countries - There is skepticism about the sustainability of such massive wealth - SpaceX and Starlink are seen as key factors in maintaining his position - Starlink is valued highly in the private market and is expected to increase upon an IPO - There is criticism of the broader implications of wealth accumulation and political influence Stock tickers discussed: $TSLA, Starlink (private)
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