Elon Musk is the first person to have a net worth of $400 billion, Bloomberg reported.

An insider share sale of his privately held company Space X boosted his net worth by $50 billion to $439.2 billion, according to the Bloomberg Billionaires Index.

In late 2022, Musk’s net worth plunged by more than $200 billion, but it has been heavily boosted by President-elect Donald Trump winning reelection to another term, Bloomberg said. Musk spent millions to help Trump get elected and also appeared at his rallies.

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