Elon Musk Makes History with $400 Billion Net Worth

Elon Musk Makes History with $400 Billion Net Worth.

Today marks a monumental occasion for those of us who are a bit obsessed with wealth.

For the first time in history, somebodies net worth has hit:

$400 billion.

As you might have guessed from the title and your own intuition, the fortunate individual whose net worth just hit that unprecedented number is… Elon Musk.

Elon's financial boost mainly comes from his shares in Tesla, which have nearly doubled since mid-October.

During the trading day, Tesla's stock peaked at $409.73. It wrapped up the day at $400.99. Even with that closing price, Elon Musk's net worth still reached $400 billion. He’s the first person ever to achieve a net worth of $400 billion.

How We Got Here

Back in 2009, Bill Gates was sitting at the top of the wealth ladder with a cool $40 billion. Fast forward to today, and that same amount wouldn’t even make you a contender for the top 40 richest people in the world.

Back in 2009, Elon Musk wasn’t even a billionaire—he might not have even hit the hundred-million mark. In 2007, Tesla was in a tight spot, nearly running out of cash. To keep the company afloat, Elon famously dumped all his savings into Tesla. At the same time, he was dealing with a pricey divorce, leading some media outlets to speculate that he was nearly broke.

Tesla went public in June 2010, valued at $2.2 billion. On that day, Elon’s net worth was around $200 million on paper. He officially became a billionaire for the first time in 2012 and hit the $100 billion mark in August 2020.

RELATED: Elon Musk's Net Worth Rockets to an Astronomical $400 Billion in 2024.

On October 28, 2021, Elon’s net worth soared past $300 billion for the first time.

Just a week later, on November 4, 2021, he briefly reached $340 billion, breaking John D. Rockefeller's 80-year record as the richest person in modern history when adjusted for inflation.

However, the following year was tough for Elon, mainly due to a significant drop in Tesla's stock price.

By the end of 2022, his net worth had plummeted back to $130 billion.

Thanks to a rebound in Tesla's stock and a new valuation for SpaceX, Elon wrapped up 2023 with a net worth of $230 billion.

The first half of 2024 saw another dip, dropping to $168 billion in April. But the last few months have been a steady climb back up, leading us to now, with Tesla’s stock price over $400 and Elon boasting a record-breaking $400 billion net worth.

Image by Steve Jurvetson from Menlo Park, USA - Elon Musk at TED 2017, CC BY 2.0, https://commons.wikimedia.org/w/index.php?curid=72830002

Can Elon Be The First Trillionaire?

Elon might be the first person to cross the $400 billion mark and hold the title of the richest person ever, but things could have played out differently. If history had taken a slight turn, he might not have been in the race for those records at all. Bill Gates had a real shot at becoming the world’s first trillionaire earlier this year when Microsoft’s market cap soared to $3 trillion.

The first half of 2024 saw a significant drop, with his net worth plummeting to $168 billion by April. However, the last few months have shown a steady climb back up. Now, with Tesla’s stock price over $400, Elon is back at a jaw-dropping $400 billion net worth.

While Elon Musk's achievement of a $400 billion net worth is undeniably impressive, it raises concerns about the growing wealth disparity in the world. Musk’s fortune largely stems from Tesla's soaring stock prices, a company that has faced criticism for its environmental impact and reliance on government subsidies.

This monumental wealth only reinforces the idea that a small group of individuals continue to control an outsized portion of global wealth, often at the expense of workers and communities. It’s hard to ignore the wider societal implications of such extreme wealth accumulation, especially in a time of increasing inequality.

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