Elon Musk has made history by becoming the first person to reach a net worth of $400 billion, according to recent reports from Bloomberg. Musk, who has held the title of the richest person in the world for several years, has now solidified his position at the top.

A significant portion of Musk’s wealth can be attributed to his successful ventures, particularly Tesla and SpaceX. Tesla, the electric car company he leads, has seen remarkable growth, with its stock price hitting a record high of $424.77 per share on December 11. This surge alone contributed substantially to Musk’s wealth, pushing his net worth to nearly $440 billion.

SpaceX, the space exploration company founded by Musk, has also experienced a dramatic increase in value. Earlier this year, in March, SpaceX’s market capitalization soared to about $350 billion after it sold shares privately, raising $1.25 billion. Musk owns 42% of SpaceX, which is now the most valuable private startup in the world. The company has been behind some of the most ambitious space missions, including the ongoing development of the Starship rocket.

In addition to Tesla and SpaceX, Musk’s wealth has been further boosted by his other ventures, such as xAI, an artificial intelligence company he founded in 2023. xAI’s value has more than doubled since May 2024, reaching an estimated $50 billion, adding to Musk’s record-breaking net worth.

Despite a recent setback when a Delaware court rejected his $100 billion pay package, Musk’s financial outlook remains strong. The package had been previously approved by Tesla shareholders, but a court ruling questioned its performance-related terms. Even without this package, Musk's wealth continues to grow, thanks to his numerous successful business ventures and influence across industries like electric vehicles, space exploration, and artificial intelligence.

As of December 2024, Musk’s wealth is estimated at around $136 billion, making him the second richest person in the world, just behind Amazon founder Jeff Bezos. Musk’s impressive fortune highlights the success of his companies and his ability to leverage technology and market trends to his advantage.