Elon Musk has beat his own record for being the richest person in the world. The South African-born billionaire has now amassed a net worth of $400 billion.

Musk's fortune increased by $62.8 billion in a single day, the most on record.

According to the Bloomberg Billionaires Index, his net worth is now about $440 billion, surpassing that of Microsoft founder Bill Gates and Amazon's Jeff Bezos together.

"The most recent catalyst was an insider share sale of his privately held SpaceX, which boosted Musk's net worth by roughly $50 billion, according to the Bloomberg Billionaires Index. Tesla Inc shares also rallied to an all-time high Wednesday, pushing Musk's already massive fortune," Bloomberg said.

The X (Twitter) donated $200 billion to Donald Trump in his election campaigning, essentially becoming intertwined with the controversial politician.

His investment has paid off, literally as Musk recently joined Trump's administration and will head the Department of Government Efficiency (DOGE) along with fellow billionaire, Vivek Ramaswamy.

DOGE will be an outside advisory agency that will collaborate with the entity of Management and Budget (OMB), a White House entity in charge of assisting the incumbent president in developing budget recommendations for Congress. Musk posted on X (Twitter).

Speculations are that Trump would speed the introduction of self-driving cars and reduce tax benefits for electric vehicles, which have helped Tesla's stock rise, said Bloomberg.

"Any person or company investing one billion dollars, or more, in the United States of America, will receive fully expedited approvals and permits, including, but in no way limited to, all environmental approvals...Get ready to rock” Trump wrote on Truth Social.

With over $400 billion to spare, Musk is on the path to receive benefits that will obscenely advantage his companies.

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Elon Musk makes history as the first person to have a net worth of over $400 billion