That’s an impressive amount of wealth.

Elon Musk, whose financial standing has soared since Donald Trump’s election victory, has become the first individual to accumulate a net worth exceeding $400 billion.

As the CEO of Tesla, Musk was already recognized as the richest person on the globe. According to the Bloomberg Billionaires Index, his wealth has surged by 77% since the November election, now reaching $447 billion. This figure surpasses the combined net worth of Jeff Bezos and Bill Gates.

At 53 years old, Musk witnessed a remarkable one-day increase of $62.8 billion, primarily due to an insider sale of shares at SpaceX, which has been valued at around $350 billion. The price of Tesla shares, which constitute the bulk of Musk’s wealth, also jumped to an all-time high on Wednesday.

Bloomberg reports that since the start of 2024, Musk has added approximately $218 billion to his total net worth.

Musk, who contributed over $100 million and leveraged his social media platform X to encourage voter turnout for Donald Trump, has emerged as one of the major beneficiaries of the presidential election.

He has formed a close alliance with Trump and has been appointed to a significant role in the new administration as co-leader of the Department of Government Efficiency.

Although he will not be working directly in the government, Musk will have direct access to the White House and considerable influence over governmental policies and the federal agencies that supervise his six companies—from Tesla to SpaceX—which have received billions in federal contracts in recent years.

Last week, a Delaware judge invalidated his 2018 compensation package at Tesla, valued at over $100 billion, for the second time. Tesla announced plans to appeal the ruling.