December 12, 2024 – 6:36 AM PST
(Reuters) – Tesla (TSLA.O) CEO Elon Musk’s net worth crossed $400 billion on Thursday, the Forbes real-time billionaires list showed, boosted by a nearly 71% surge in the automaker’s shares this year and the soaring valuation of his rocket company SpaceX.
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Musk is Tesla’s largest shareholder with about a 13% stake in the company. The EV maker’s shares rose to a record high of $424.9 on Wednesday, extending a rally that kicked off following the Nov. 5 election.
His net worth was also boosted by an insider share sale of SpaceX, which Musk heads. The rocket company and its investors agreed to purchase as much as $1.25 billion…
