Elon Musk, the world's richest man, has reached a historic milestone with his wealth surpassing $400 billion. This remarkable achievement is attributed to significant gains in the value of his stakes in Tesla and SpaceX. Since the election victory of Donald Trump, Tesla shares have soared by over 65%, while Musk's ownership in SpaceX increased following a stock buyback, boosting his fortune to approximately $440 billion.
Musk's financial support for Trump's campaign, amounting to $270 million, made him the largest donor in U.S. political history. In return, Trump appointed Musk to lead a new department focused on efficient governance, granting Musk considerable influence over the U.S. government. This alliance raises concerns about potential conflicts of interest as Musk's companies, such as SpaceX, are intricately connected with government agencies like NASA and the Pentagon.
SpaceX, which is valued at $350 billion, has been making strategic moves, including purchasing shares from employees, underscoring its robust financial position. The company continues to dominate the U.S. satellite launch market, highlighted by its ongoing developments with the Starship rocket at the Boca Chica launch pad.
Musk's sprawling business empire, which includes Tesla, xAI, Neuralink, and Twitter, has secured substantial government contracts worth billions, further solidifying his financial stature. As Musk's wealth continues to grow, his influence in both the corporate and political spheres is likely to remain a subject of significant interest and scrutiny.
