Tesla CEO Musk's net worth has first surpassed the $400 billion mark.
On December 11 local time, the Bloomberg Billionaires Index showed that as of the market close that day, the world's richest person, Tesla CEO Elon Musk, had a net worth of $447 billion, setting a record for personal wealth exceeding $400 billion, which is $198 billion higher than the second-placed founder and executive chairman of Amazon, Jeff Bezos, and has increased by $218 billion since the beginning of the year.
Bloomberg Billionaires Index Top Ten. Source: Bloomberg Billionaires Index
Since Trump won the 2024 U.S. presidential election, Musk, as a major donor behind him, has seen his wealth continue to rise, and Tesla (Nasdaq: TSLA) stock price has increased by more than 69%. On the 11th, Tesla's stock price rose by 5.93% to close at $424.77 per share, surpassing the historical high set in 2021, with a total market value of $1.36 trillion.
Recently, the latest news regarding the valuation of Elon Musk's American aerospace company, SpaceX, has driven Tesla's stock price to rise further. On December 10 local time, foreign media reported that internal emails from SpaceX indicated that SpaceX and its investors had agreed to purchase $1.25 billion worth of common stock from employees and other company insiders at a price of $185 per share, implying that SpaceX's valuation has reached approximately $350 billion, making it the most valuable private startup in the world.
On November 18, CCTV News cited Bloomberg reporting that, according to informed sources, the team of the elected U.S. President Donald Trump plans to make 'building a federal framework for fully autonomous vehicles' one of the priorities of the U.S. Department of Transportation. This is undoubtedly a significant boon for Tesla, which is seeking growth breakthroughs in autonomous driving.
Additionally, on November 12 local time, Trump announced that American entrepreneur Musk and Vivek Ramaswamy would jointly lead the proposed 'Department of Government Efficiency' after he assumes the presidency. This means Musk will be able to influence decision-making more effectively, particularly in areas involving technology and innovation policy.
Meanwhile, supported by 'cash ability', Musk's artificial intelligence startup xAI has also gained continuous attention, with its valuation recently skyrocketing. In November of this year, after successfully raising $5 billion in the latest funding round, xAI's valuation has soared to $50 billion. According to foreign media reports on December 2, industry insiders revealed that xAI has placed an order for GB200 AI chips with NVIDIA, and Musk himself has also directly contacted NVIDIA CEO Jensen Huang, ultimately obtaining priority delivery rights at a transaction price of $1.08 billion.
On October 23, Tesla disclosed financial report data that far exceeded expectations. In the third quarter of 2024, Tesla achieved revenue of $25.182 billion, an increase of 8% year-on-year; net profit was $2.167 billion, an increase of 17% year-on-year; gross margin rose to 19.8%, an increase of about 2 percentage points year-on-year; after excluding profits from other businesses and carbon credits, its automotive gross margin also reached 17.1%. Its net profit and gross margin levels far exceeded market expectations.