Elon Musk’s net worth has climbed to an estimated $440 billion, bolstered by a recent SpaceX share buyback that valued the private aerospace company at $350 billion. This $50 billion surge cements Musk’s status as the world’s richest individual, according to Bloomberg.
The billionaire’s fortune, primarily tied to Tesla and SpaceX, has seen a significant boost following Donald Trump’s recent electoral success. Tesla’s stock has surged by 65% since the election, a rally that coincided with Musk’s $270 million donation to Trump’s campaign.
Musk’s relationship with Trump has drawn attention, particularly after the former president was invited to a SpaceX rocket launch. Critics speculate that Musk’s ties to the administration could result in favorable policies for his businesses, including streamlined regulations for Tesla and potential reductions in electric vehicle (EV) tax credits, which could disadvantage competitors.
In addition to his business ventures, Musk is set to co-lead the Department of Government Efficiency, a new initiative aimed at cutting billions in federal spending and reducing bureaucratic hurdles. This move underscores his expanding influence in both the private and public sectors.
