Elon Musk has once again broken all the rules. His fortune has reached $429.2 billion according to Forbes’ real-time millionaires list, becoming the first person to surpass the milestone of $400 billion in accumulated wealth. However, more striking than the fact of achieving it in itself is that it has achieved it in record time thanks to the explosive revaluation that its companies have had after the election night that gave victory to Donald Trump.
An unprecedented milestone in financial history. Musk’s financial takeoff has been meteoric. Just before presidential electionsElon Musk had a fortune of $237 billion. The millionaire has managed to double his fortune in less than two months, catapulting it to the $429.2 billion recorded last night by the Forbes index.
This asset growth has been driven by a series of events that have as their backbone the election of Donald Trump as president of the United States, and the subsequent appointment of Jared Isaacmana close ally of Musk in his space adventure, as director of NASA. This latest event, in particular, has strengthened SpaceX, the agency’s main provider of space services, while simplifying regulations for space launches.
SpaceX: the jewel in the crown. The decisive event that has definitively catapulted Musk’s fortune has been the recent valuation of SpaceX, which now amounts to $350 billion, 60% more than its last public valuation. This milestone was reached thanks to a recent transaction in which SpaceX employees sold shares, allowing new investors to enter. This milestone was commented on by Musk himself from his social network, where he wrote the message: “The really crazy thing about this is that almost no investors wanted to sell shares, even with a valuation of $350 billion!”
In reality, SpaceX is not a joint venture like Tesla is, so the calculation of its value is carried out through valuations and estimates with external audits. As Elon Musk clarified in his message, SpaceX bought back shares from its employees to allow the entry of some new investors, who valued the value of the company upwards. It should be remembered that Elon Musk owns 42% of the company, so this increase implies that his percentage in SpaceX is already worth $147 billion.
A privileged position for SpaceX. This new valuation places SpaceX as the most valuable unlisted startup in the world, surpassing even ByteDance, the parent company of TikTok.
However, beyond the figures, this valuation reflects the market’s confidence in the future of SpaceX, which has been reinforced with the arrival of Donald Trump to the White House and with the appointment of Jared Isaacman at the head of NASA, as well as the expectation of rreduce regulations in aerospace matters that were hindering Musk’s plans to head to Mars.
Tesla and xAI also add to the success. However, SpaceX is not the only reason Musk’s fortune has skyrocketed. Tesla also has a lot to say about this. The electric vehicle company has been breaking records in their stock market valuations.
This stock market bonanza has not only boosted the company’s value, but has also contributed a whopping $50 billion to Musk’s net worth since Donald Trump made the big splash.
Grok and X get on the bandwagon. On the other hand, xAI, the artificial intelligence company founded by Musk, also is on the rise. The value of xAI has doubled in just a few months thanks to the increase in investments, demonstrating that the artificial intelligence sector still a powerful engine for the generation of wealth.
Even X, the social network acquired by Musk to use as a speaker during the election campaign, has registered a slight slowdown in its free fall. Fidelity Investments, one of its main investors in the purchase of the social network, has announced that will increase its share in X. The announcement came after showing a valuation somewhat higher than the one the investment fund presented in September which indicated that X had lost around 75% of its purchase price.
The political connection and financial growth. No one is unaware of the fact that the Musk’s closeness to Donald Trump It has also played a crucial role in this boom period for its assets. According to published C.B.S.the final count estimates that Elon Musk donated about $277 million during the election campaign, a sum that represents just under 0.063% of his wealth. These contributions not only strengthened his relationship with the new president-elect, whom he has called himself “first buddy”, but they also ensured a favorable environment for your companies.
After the election, Musk has become a key figure in Trump’s inner circle, accompanying him at events such as the rocket launch at the SpaceX base. This link appears to have benefited their interests, as the new administration is pushing regulatory reforms that could facilitate the growth of their businesses.
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Image | Wikimedia Commons (Office of the Speaker of the House of Representatives, Mike Johnson)