Elon Musk has achieved another historic milestone, becoming the “first individual” to surpass a net worth of $400 billion. The achievement is attributed to the surging valuations of Tesla and SpaceX, as well as significant gains from Bitcoin investments following the cryptocurrency’s rise past $100,000.

SpaceX and Tesla Drive Wealth Surge

A private share sale significantly boosted SpaceX’s valuation to $350 billion, adding $50 billion to Musk’s wealth. With a 42% stake in the company, SpaceX continues to play a pivotal role in Musk’s financial ascent. At the same time, Tesla’s performance in the stock market has been a major driver, with the company’s market cap nearing $1.315 trillion. Tesla shares have surged 71% in 2024, reaching a record high of $424.77—the first since 2021.

Bitcoin Investments Yield Substantial Returns

Musk’s ventures into cryptocurrency have also paid off handsomely. Tesla and SpaceX hold a combined $2 billion in Bitcoin, benefiting from the digital asset’s rally beyond $100,000.

Tesla owns 11,509 BTC valued at $1.17 billion, while SpaceX holds 8,285 BTC worth $842 million, according to Arkham Intelligence. Both companies acquired Bitcoin at an average price of $34,980 per coin, achieving an unrealized gain of $1.3 billion—an impressive 186% return on investment.

Political Influence Enhances Market Conditions

In addition to his corporate achievements, Musk’s recent appointment as head of the Department of Government Efficiency (DOGE) by President-elect Donald Trump has added a political dimension to his influence. This role has created favorable conditions for his businesses, further bolstering his wealth.

Musk’s extraordinary success highlights his dominance across multiple industries, from electric vehicles to space exploration and cryptocurrency. With valuations for Tesla and SpaceX climbing and Bitcoin reaching new milestones, Musk’s financial trajectory shows no signs of slowing down.