Elon Musk, CEO of Tesla and founder of SpaceX, has made history as the first person ever to accumulate a fortune exceeding $400 billion.

According to the Bloomberg Billionaires Index, Musk’s net worth now stands at approximately $440 billion (£345 billion), surpassing the combined fortunes of Microsoft founder Bill Gates and Amazon’s Jeff Bezos.

Musk’s wealth surged significantly in the weeks following Donald Trump’s victory in the US presidential election.

A key factor in reaching this milestone was a recent share sale at SpaceX, which added around $50 billion to his fortune and raised SpaceX’s valuation to $350 billion, making it the world’s most valuable private company. Combined with a rise in Tesla’s stock price, this increase pushed Musk’s net worth to $447 billion.

Tesla shares reached an all-time high of $415, driven by investor optimism surrounding the company’s prospects in electric vehicles and clean energy, particularly after Trump’s election.

Many investors are hopeful that regulatory changes under the new administration, such as potential updates to self-driving car regulations and tax policies, could benefit Tesla.

In addition to Tesla and SpaceX, Musk’s artificial intelligence company, xAI, has seen its valuation double to $50 billion since its May funding round, as it develops advanced AI technologies.

Although Musk’s financial success is unmatched, he has faced some setbacks. A Delaware court recently invalidated his $100 billion Tesla pay package, a rare legal challenge. However, this decision is unlikely to impact his status as the world’s wealthiest individual.

As of December 10, Musk’s fortune is $140 billion ahead of Jeff Bezos, the second-richest person on the Bloomberg Billionaires Index. Since early November, Musk has added approximately $136 billion to his wealth, solidifying his position at the top of global billionaire rankings.