Elon Musk Make History: The wealth of Tesla and SpaceX owner Elon Musk has increased at the speed of a bullet in the last one year. He has got the most benefit after Donald Trump was elected US President. According to the Bloomberg Billionaire Index, Elon Musk's total wealth has crossed $400 billion. According to the current data, his total wealth has reached $447 billion. This is a new record, in the last 24 hours alone, his wealth has increased by $62.8 billion. In the last one year, his wealth has increased by $218 billion.

SpaceX is estimated to be worth around $350 billion

According to reports, Elon Musk's wealth increased so much because SpaceX and its investors agreed to buy the company's insider shares. In this deal, SpaceX was valued at around $350 billion. With this deal, Musk's total wealth increased by about $50 billion to reach $440 billion. According to Bloomberg, Musk's wealth, which is mainly based on Tesla's share price and SpaceX's valuation, had already increased a lot after Donald Trump won the US presidential election last month.

Tesla's share price
has risen by about 65 percent since the election in November. Musk has been a major political donor and supporter of Trump. He spent a whopping $270 million on the Republican's campaign. He has been a constant companion of Trump since his election victory. Not only this, he also invited him to watch the rocket launch by his SpaceX company in Texas. All of Musk's businesses have contact with US and foreign governments at different levels, and his closeness to Trump has raised concerns that Musk will be able to promote his own interests.

Musk hopes
to cut regulations for Tesla and eliminate tax credits on electric vehicles, which would punish the car maker's rivals. Trump has chosen Musk to co-head the so-called Department of Government Efficiency, which is set to cut billions of dollars in federal spending and reduce government red tape. In the Bloomberg Billionaire Index, Elon Musk is followed by Jeff Bezos ($249 billion) and Mark Zuckerberg ($224 billion).