According to the Bloomberg Billionaires Index, Elon Musk is the first person to have a net worth of over $400 billion. This outstanding achievement follows a large insider share sale at his aerospace company, SpaceX. Also increases his wealth by about $50 billion.
Musk’s Stock Market Impact and Trump’s Victory
The political climate in the United States, especially after the election of President-elect Donald Trump, had a big impact on Elon Musk’s $400 billion fortune.
Elon Musk led Tesla’s stock to soar by around 65% after Donald Trump’s election. His company shares reach an all-time high of $415. Investors are hopeful that the Trump administration will remove tax breaks that favor Tesla’s rivals. And simplify the rules about self-driving cars.
Although it is not an official government agency. Elon Musk has been named co-head of the newly established Department of Government Efficiency (DOGE). That intended to make suggestions regarding federal operations and spending.
