Updated Dec 12, 2024, 10:29 AM IST Elon Musk Donald Trump Elon Musk has become the first person to surpass $400 billion in net worth, solidifying his position as the world’s richest individual. According to the Bloomberg Billionaires Index, Musk’s fortune has reached $447 billion, marking significant growth since the US presidential election last month. The recent surge in Musk’s wealth is attributed to an insider share sale of his private space exploration company, SpaceX, which reportedly added around $50 billion to his fortune. Additionally, Tesla shares reached an all-time high on Wednesday, further boosting his financial standing. Musk’s increasing wealth highlights the rising value of his ventures, particularly in the electric vehicle and space sectors, as Tesla and SpaceX continue to lead their respective markets. Amazon founder Jeff Bezos is a distant second on the list with a total worth of $249 billion and Mark Zuckerberg is a close third at $224 billion. Larry Ellison is in the fourth position with a net worth of $198 billion and Bernard Arnault is at $181 billion. Elon Musk’s wealth isn’t just tied to his well-known companies, SpaceX and Tesla. His artificial intelligence startup, xAI, has seen its valuation double to $50 billion since May. The company, focused on developing advanced AI technologies, adds yet another dimension to Musk’s expanding financial empire. While Musk’s rise to the top of global wealth rankings is remarkable, it hasn’t been without challenges. A Delaware court recently struck down his record-breaking Tesla pay package worth over $100 billion, marking a rare legal defeat. However, this setback is unlikely to affect his status as the world’s wealthiest individual. For Unparalleled coverage of India's Businesses and Economy – Subscribe to Business Today Magazine