The Forbes real-time billionaires list shows that on Thursday Elon Musk's net wealth from Tesla (TSLA, Financial) exceeded $400 billion. The rise coincides with Tesla's ongoing stellar performance; it surged almost 71%
year-to- date and reached a record high of $424.9 on Wednesday.
Owning almost 13% of Tesla, Musk also profited from a share sale of SpaceX, the rocket firm he oversees. Bloomberg reports that SpaceX and its backers agreed to buy up to $1.25 billion in common shares. The sales value the business at about $350 billion, a number Musk praised as reflecting great investor
confidence even with limited share availability.
The stock surge by Tesla reflects recent hope connected with Musk's apparent influence with President-elect Donald Trump. Policy changes that might benefit Tesla and its affiliated companies, notably Neuralink and SpaceX, both of which rely on legal systems, excite investors.
Musk's leadership across several businesses has positioned him as a major player in both technological and policy debates, best shown by his talks with U.S. Congress members on government efficiency projects.
