Elon Musk is once again breaking all records: the entrepreneur has achieved a net worth of more than 400 billion dollars for the first time. According to the Bloomberg news agency, this is a world first.
How could Musk break this incredible record?
- On the one hand, shares of the electric car manufacturer Tesla, led by Musk, have risen by more than 65 percent since Donald Trump’s election victory on November 5.
- On the other hand, a share buyback in the Musk-led space company SpaceX increased his stake in the company. His wealth has increased by approximately $50 billion to $440 billion (419.18 billion euros).
$270 million for Trump
Musk supported Trump’s election campaign with $270 million, making him the largest donor in the history of American politics. For his part, the right-wing populist has tasked the entrepreneur with heading a new department for efficient governance.
Association with Trump offers opportunities for influence
Through his alliance with Trump, Musk now has significant influence over the US government, raising the question of massive conflicts of interest. His activity could also lead to new contracts for his companies.
According to information from the New York Times, the Musk companies received government contracts worth three billion dollars (2.85 billion euros) last year alone.
Source: Krone
I am Wallace Jones, an experienced journalist. I specialize in writing for the world section of Today Times Live. With over a decade of experience, I have developed an eye for detail when it comes to reporting on local and global stories. My passion lies in uncovering the truth through my investigative skills and creating thought-provoking content that resonates with readers worldwide.
