Into the stratosphere: Musk net worth tops $400 billion
The Peninsula
Washington: Tesla and SpaceX boss Elon Musk s net worth has surpassed $400 billion, according to the Bloomberg Billionaires Index, setting a new miles...
Washington: Tesla and SpaceX boss Elon Musk's net worth has surpassed $400 billion, according to the Bloomberg Billionaires Index, setting a new milestone on Wednesday for the world's richest person.
The jump in wealth, the business news outlet reported, came after SpaceX and its investors agreed to purchase as much as $1.25 billion of insider shares in a transaction that valued the rocket and satellite company at about $350 billion.
The transaction increased Musk's personal wealth by about $50 billion to $440 billion, Bloomberg said.
Musk's wealth, largely based on the share price of Tesla and the valuation of SpaceX, already took a huge leap after Donald Trump won last month's US presidential election.
Tesla's share price is up by about 65 percent since the vote in November.
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