Elon Musk became the first person in history with a fortune of more than $400 billion

 Elon Musk became the first person in history with a fortune of more than $400 billion! 

How Elon Musk's relationship with Donald Trump affected him

The title of the first person to surpass $400 billion in wealth officially goes to… Elon Musk .

At least that's what the Forbes billionaires list proves. Elon Musk managed to sit "comfortably" at the top of the "competition", securing a long distance from the 2nd place on the list, Jeff Bezos, with a fortune of $243.7 billion.

In 3rd place is Oracle co-founder Larry Ellison with $223.4 billion.

The reasons why Elon Musk rose to the top of the list, beyond the financial successes of Tesla and SpaceX, are also the close relationship he has with Donald Trump .

But let's start from the beginning.

The tycoon's fortune has skyrocketed thanks to the spectacular 71% increase in Tesla's stock this year, in which he owns just 13%.

On Wednesday (11.12.2024), the electric car company's stock reached a record high of $424.9 billion, continuing the rally that began with Donald Trump's victory in the US presidential election.

Musk's wallet swelled even more after selling a block of SpaceX shares.

The space company and its investors have agreed to buy $1.25 billion in common shares , Bloomberg reported Tuesday.

"The crazy thing is that almost no investor wanted to sell shares even with the market value reaching $350 billion," Elon Musk commented on the report in X.

SpaceX, he added, reduced the number of shares it repurchased from its employees to bring in some new investors.

Tesla investors are betting on Elon Musk's relationship with the US president-elect, hoping that the businessman will play a role in shaping the new administration's policy that will favor his businesses.

This is almost certain if you consider that SpaceX is the Pentagon's main supplier with the Starlink service and the development of spy satellites.

Both SpaceX and Neuralink, Elon Musk's company that develops brain chips for paralyzed patients, depend on the US regulatory framework and would have much to gain from a friendlier environment, Reuters comments.

"It would be a good return for more than $250 million," Elon Musk said of this plan during Donald Trump's election campaign.