Elon Musk's net worth now more than Jeff Bezos and Bill Gates' combined wealth
SpaceX and Tesla CEO Elon Musk has scaled yet another peak as the world's richest person, with his net worth surpassing the $400 billion mark as per the Bloomberg Billionaires Index.
Musk’s net worth stands at $447 billion, gaining $ 218 billion in this calendar year so far, and has surpassed the combined wealth of billionaires Jeff Bezos and Bill Gates, according to the Bloomberg Billionaires Index data.
Amazon founder Jeff Bezos, who is second on the list, has a total net worth of $249 billion and that of Microsoft co-founder Bill Gates stood at $165 billion, who ranks 7th in the Bloomberg’s Billionaire Index.
The sudden spike in Musk's wealth stems from a recent SpaceX transaction where the company and its investors agreed to buy insider shares worth up to $1.25 billion, valuing SpaceX at approximately $350 billion and a further increase in SpaceX share price resulted in inflating Musk's personal riches by another $50 billion approximately.
Elon Musk's extraordinary wealth is also driven by his substantial stakes in Tesla alongside SpaceX, with Tesla's stock experiencing a dramatic surge of nearly 65% following the U.S. presidential election in November.
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