- December 12, 2024
- Posted by: admin
- Category: BitCoin, Blockchain, Cryptocurrency, Investments
The post Elon Musk’s Net Worth Crosses $400 Billion: Bitcoin, Tesla, and SpaceX Holding Surge appeared first on Coinpedia Fintech News
Elon Musk has once again shattered records, becoming the first person ever to reach a net worth exceeding $400 billion. This achievement marks a historic milestone, driven by surging valuations of his companies, particularly Tesla and SpaceX, along with the remarkable performance of his crypto investments as the Bitcoin price surged past the $100k milestone.
Musk Networth Crossed $447 Billion
Recent reports indicate that Musk’s net worth has skyrocketed to $447 billion, fueled by a series of strategic developments. A major contributor was a private share sale of SpaceX, adding $50 billion to his wealth.
SpaceX’s valuation climbed to $350 billion following this transaction, with Musk’s 42% stake playing a pivotal role.
At the same time, Tesla’s remarkable performance in the stock market has played a crucial role. The company’s market value has risen to nearly $1.315 trillion, with its shares climbing 71% in 2024. Tesla’s stock recently hit $424.77, marking its first record high since 2021.
Musk Crypto Investments Paying Off
Musk’s involvement in cryptocurrency has also brought significant returns. Tesla and SpaceX now hold a combined $2 billion in Bitcoin, profiting from the cryptocurrency’s surge past $100K.
According to Arkham Intelligence, Tesla owns 11,509 BTC valued at $1.17 billion, while SpaceX holds 8,285 BTC worth $842 million.
These companies bought Bitcoin at an average price of $34,980 per coin, resulting in a combined unrealized gain of $1.3 billion, a 186% return on investment.
Musk Role in Government
Musk’s recent appointment by President-elect Donald Trump as head of the Department of Government Efficiency (DOGE) has added political weight to his already towering influence.
This role has favored better market conditions for Musk’s businesses, further boosting his wealth.
