Tesla CEO Elon Musk has solidified his status as the wealthiest individual in history, amassing an astonishing net worth of $348 billion. According to the Bloomberg Billionaires Index, Musk’s financial surge follows a significant rally in Tesla shares, driven by growing optimism on Wall Street regarding business-friendly policies.
Tesla Shares Soar
The rally in Tesla’s stock gained momentum after Donald Trump’s electoral victory, as investors anticipated deregulation efforts under the new administration. Since Election Day, Tesla’s shares have skyrocketed by 40%, with a 3.8% climb on Friday alone, closing at a three-year high of $352.56.
This surge added $7 billion to Musk’s fortune, surpassing the previous record of $320.3 billion set during Tesla’s pandemic-era boom in November 2021.
Strong Investor Confidence
Musk’s close association with Trump has further bolstered investor confidence. Earlier this year, Musk endorsed Trump and donated over $100 million to his campaign. Additionally, his appointment as the chair of the new “Department of Government Efficiency” (DOGE) is expected to strengthen his influence in shaping policies beneficial to his businesses, particularly Tesla’s Full Self-Driving (FSD) program.
Musk’s Expanding Empire
Beyond Tesla, Musk’s ventures in artificial intelligence and aerospace continue to bolster his wealth. His 60% stake in xAI, a private AI company valued at $50 billion, contributed $13 billion to his fortune. Meanwhile, his 42% stake in SpaceX, which was valued at $210 billion in a June tender, added another $88 billion.
Speculation about SpaceX’s upcoming funding round, potentially valuing the company at $250 billion, hints at even greater financial gains for Musk, with an estimated additional $18 billion in the pipeline.
Ahead of the Pack
Musk’s wealth places him far ahead of Oracle Chairman Larry Ellison, the world’s second-richest person, with $235 billion. Despite his immense fortune, Tesla shares remain 14% below their all-time high, showcasing the room for further growth in Musk’s net worth.
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