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Elon Musk News: The world’s richest man Elon Musk has made another achievement in his name. The SpaceX and Tesla CEO recently became the first person in history to reach a $400 billion fortune following US election results with insider share sales.
Where did the total wealth reach?
According to the Bloomberg Billionaires Index, insider sales of shares in Elon Musk’s company SpaceX have increased his net worth by about $ 50 billion. With the help of which his total wealth has increased to 439.2 billion dollars.
What is the reason for the sudden increase in Musk’s wealth?
At the end of 2022, Elon Musk’s net worth saw a decline of more than $200 billion. Musk’s fortunes have been skyrocketing since Donald Trump was elected President last month. Elon Musk donated the most to Donald Trump’s election campaign.
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Shares of Tesla Inc. surged nearly 65 percent ahead of the election. The market expects Donald Trump to streamline the rollout of self-driving cars and eliminate tax credits for electric vehicles that help rivals Tesla. According to the Wall Street Journal, the value of his artificial intelligence company xAI has also doubled since Trump’s victory. It has reached approximately 50 billion dollars.