News
Elon Musk Becomes First Person To Surpass $400 Billion Net Worth
Musk spent a quarter of a billion dollars this year helping elect Donald Trump to a second term as president.
Elon Musk’s estimated net worth has now surpassed $400 billion, according to an estimate from Bloomberg News — the first person ever to reach such a milestone.
While the value of shares in Musk’s Tesla electric car company and robotics group have soared in recent months, it is Musk’s privately held stake in SpaceX, the rocket company he helped found, that has catapulted his wealth beyond the latest threshold.
This week, Bloomberg reported that a private sale of SpaceX shares increased the market cap of the firm to approximately $350 billion, making it the most valuable private startup in the world. Musk is said to own 42% of the firm.
As Tesla shares hit a new all-time high Wednesday, Musk’s wealth leapt to some $440 billion, according to Bloomberg.
Musk’s position as world’s wealthiest person has seen some volatility in recent years amid turbulence in Tesla’s share price, but he’s most recently held the No. 1 slot since May. A separate billionaire index tracked by Forbes pegs Musk’s net worth at about $369 billion, with Amazon founder Jeff Bezos at No. 2 and Oracle founder Larry Ellison at No. 3.
Earlier this month, a Delaware judge reaffirmed an earlier ruling that rejected a pay package for Musk that had already been approved by Tesla shareholders, citing a conflict of interest in their vote.
Yet Musk’s net worth has climbed even without that compensation deal, which is now worth $100 billion. Musk expressed his disagreement with Judge Kathleen McCormick’s ruling on the compensation arrangement, stating on his X social media platform: “Shareholders should control company votes, not judges.”
Musk spent much of the year focused on the 2024 election: Federal Election Commission filings show he spent nearly a quarter of $1 billion on helping elect Donald Trump to a second term as president.
Kenya Insights allows guest blogging, if you want to be published on Kenya’s most authoritative and accurate blog, have an expose, news TIPS, story angles, human interest stories, drop us an email on [email protected] or via Telegram
KETRACO CEO Advert Marred By Controversies As Fears Grow That Kipkemoi Kibias Is A Predetermined Candidate
I Will Bribe Every Judge in Town- MP Jack Wamboka
KNH ON THE BRINK: How Corruption, Revenue Plunder and State Neglect Are Destroying Kenya’s Flagship Hospital
Receivers In TransCentury Sh6B KRA Tax Arrears Are Biased And Must Be Removed, COFEK Claims
The Man Behind the Badge: How Prof. Erastus Kanga Turned Kenya’s Premier Wildlife Agency into a Theatre of Corruption, Fear and Impunity
City Lawyer Conrad Maloba Arrested Over Fake Ambulance Fraud
THE FIXER IN THE FILE ROOM: How Parliamentary Health Committee Clerk Adan Gindicha Cleared Mediheal Hospital of Organ Harvesting Claims Despite Mounting Evidence
Nairobi Freezes Binance Accounts in Sweeping Anti-Fraud Crackdown as Global Scandal Record Haunts World’s Largest Crypto Exchange
EXCLUSIVE: Odibets Bought Stolen Data From Millions Of Kenyans
Taiwan President Cancels Trip After African Countries Close Airspace
Forged Legacy: How Kaplan and Stratton’s Peter Gachuhi Is Accused of Faking a Top AG’s Will as State Claims Damning Evidence
Inside Details Of Sh78 Billion Fraud in KPC’s Mombasa-Nairobi Line 5 Pipeline Project That Has Continued To Bleed The Country
The Lawyer at the Centre of Kenya’s State Machine: Eric Gumbo, the AG’s Bypassed Office, and the Half-Billion-Shilling Question
Sold And Abandoned: How Diageo and Asahi Are Locking Kenya’s EABL Minority Shareholders Out Of East Africa’s Biggest Corporate Heist
Poison at the Pump: How Kenya’s Fuel Marking System May Be Exposing Millions to Cancer-Causing Chemicals
How Firm Linked To Mombasa Tycoon Jaffer Was Allowed To Import Fuel At Bloated Price And Set To Make Billions In Profits From Iranian War Crisis In Kenya
THE ZAKHEM-ECOBANK MACHINE: How Kenya’s Courts Were Weaponised to Drain a State Corporation of Over KES 78 Billion
The Teflon Company: How Gulf Energy’s Insiders Built Billions on Kenya’s Fuel, and Walked Away Clean
Kenyan Motorists Stare At Possible Engine Damage And Heavy Losses As Report Confirms Substandard Fuel In Circulation
Mombasa Lawyer Exposed In Sh600 Million Alleged Double-Dealing Diani Property Transaction
-
Business2 weeks agoKenyan Motorists Stare At Possible Engine Damage And Heavy Losses As Report Confirms Substandard Fuel In Circulation
-
Business2 weeks agoTHE FUEL CABAL: How Mohamed Jaffer, a KPC Insider, and a Ministry Official Are Alleged to Have Manufactured Kenya’s Worst Petroleum Crisis in Three Years, While Kenyans Burned
-
Business2 weeks agoGetting Away With It: How Kenya’s Most Politically Connected Fuel Company Gulf Energy Is Pocketing Billions While Rival Firms Face Public Wrath
-
Business6 days agoNairobi Freezes Binance Accounts in Sweeping Anti-Fraud Crackdown as Global Scandal Record Haunts World’s Largest Crypto Exchange
-
Investigations6 days agoEXCLUSIVE: Odibets Bought Stolen Data From Millions Of Kenyans
-
Business2 weeks agoSugar Empire in the Dock: How Kibos’s Mombasa Refinery Landed 1,481 Phantom Tonnes at the Port — and Why Nine Government Agencies Are Now Watching Its Every Move
-
Investigations7 days agoTHE BRAZEN RETURN: Triton Thief Yagnesh Devani, Who Pillaged Kenya of Sh7.6 Billion and Fled, Now Asks the Same Courts He Escaped to Restore His Stolen Wealth
-
Investigations5 days agoTHE FIXER IN THE FILE ROOM: How Parliamentary Health Committee Clerk Adan Gindicha Cleared Mediheal Hospital of Organ Harvesting Claims Despite Mounting Evidence