Musk becomes the first person in history to have a net worth exceeding $400 billion.

American businessman Elon Musk has been recognized as the first person whose net worth exceeds $400 billion, according to Bloomberg.

According to sources, the latest sale of SpaceX shares increased his wealth by $50 billion, bringing the total to $439.2 billion.

'Musk's wealth has been rapidly increasing since 2022. The value of many of his businesses sharply rose after the Republican Donald Trump won the presidential election, drawing attention to the billionaire. One day after the election, his wealth increased by $26.5 billion due to the rise in Tesla Inc. shares,' the report states.

According to reports, Tesla's shares have risen by 65% compared to the pre-election period due to expectations that Trump will eliminate incentives for electric vehicles, which benefits Tesla's competitors.

Meanwhile, the value of xAI has more than doubled since May, reaching $50 billion. According to The Wall Street Journal, Trump's victory stimulated investor interest.

It was previously reported that Elon Musk's SpaceX has become the most valuable private startup in the world following an offer to investors to purchase shares. The estimated market value of the rocket and satellite manufacturer has reached $350 billion after a 65% increase in the company's share price.

It was also reported that Elon Musk's SpaceX received a contract from the Pentagon to expand Ukraine's access to a more secure, militarized version of its Starlink satellite network. The contract stipulates that 2,500 Starlink terminals already in Ukraine will gain access to Starshield – a classified and encrypted signal via Starlink that is harder to hack or jam. This adds to the 500 terminals that were previously connected to Starshield.