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Elon Musk has become the first person to amass a net worth exceeding $400 billion, according to Bloomberg News.
SpaceX, the rocket company founded by Musk, has played a significant role in boosting his wealth. A recent private sale of SpaceX shares valued the company at $350 billion, with Musk owning 42% of it.
Tesla’s soaring stock prices have also contributed to Musk’s fortune, which reached $440 billion this week.
Musk has maintained the top spot as the world’s wealthiest individual since May, despite fluctuations due to Tesla’s share price volatility.
However, a Delaware judge recently rejected a compensation package for Musk that was approved by Tesla shareholders, citing a conflict of interest. Musk has expressed his dissatisfaction with the ruling.
Musk has been actively involved in politics, supporting Donald Trump’s presidential reelection campaign with significant financial contributions.