Whatsapp Facebook Twitter Elon Musk, the SpaceX and Tesla owner, has become the first person to hit a net worth of $400 billion. Amazon founder Jeff Bezos, the second richest man in the world, by comparison, is worth around $250 billion while Meta CEO Mark Zuckerberg is at $224 billion. Here’s how Musk left the competition behind and what it means Why Vivek Ramaswamy and Elon Musk want to eliminate daylight saving time As per Bloomberg, Musk’s one-day wealth jump of $62.8 billion is the largest on record, and helped propel the combined fortunes of the world’s richest 500 people above $10 trillion, also for the first time, according to the index. Musk’s fortune has witnessed a tremendous boost after Donald Trump won the presidential election. Advertisement Musk, who donated hundreds of millions of dollars to Trump and campaigned with him, is extremely close to the President-elect. He is thought to be intimately involved in the new administration’s process of choosing candidates. Trump has also said Musk would be the co-chief of a proposed Department of Government Efficiency (DOGE). Many believe Musk’s proximity to Trump bodes well for his companies – which are regulated, subsidised and awarded contracts by the federal government – particularly Tesla. Elon Musk is thought to be close to US President-elect Donald Trump. Reuters Bloomberg reported that is thought that the Trump administration will eliminate tax credits for competitors of Tesla and give a fillip to self-driving cars. No wonder that shares of the EV firm alone have spiked 70 per cent since November 5. Advertisement As per Bloomberg, the share sale and an increase in value of Tesla stock on Wednesday saw Musk’s fortune increase by $62 billion. That’s the biggest one-day jump in a fortune ever. It also resulted in the world’s 500 richest people now being valued at above $10 trillion for the first time. Musk owns around 13 per cent of Tesla (excluding his stock options) worth around 170 billion. He also has a 54 per cent stake in xAI – which focuses on tech and AI –worth around $50 billion. As per The Wall Street Journal, the company was worth around half that in May. Musk also owns X and the Boring Company. Advertisement