Elon Musk just can’t seem to stop breaking his own records. With a $70 billion boost to his net worth following Donald Trump’s win, Musk is now officially richer than anyone could have predicted—again.
Tesla’s stock is soaring, his AI company xAI is skyrocketing, and the billionaire’s net worth is climbing thanks to his multiple ventures and growing political influence. On November 22, reports indicated that his net worth surpassed $340 billion, according to the Bloomberg Billionaires Index.
Elon Musk’s net worth hits the $340 billion mark post-election
November 5 marked a turning point for Elon Musk’s fortune, following Trump’s presidential win. Tesla’s stock price skyrocketed by 40% in the days following the election, fueled by investor optimism.
By Friday’s market close, Musk’s net worth hit a record $321.7 billion, bolstered by a $7 billion gain from Tesla’s 3.8% rise, hitting a new 3.5-year high. This surpasses his previous high of $320.3 billion set in November 2021 during Tesla’s pandemic-era growth. His current net worth is estimated at a record $347.8 billion.
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Many believed that Elon Musk’s influence within the Trump administration could lead to favourable regulations for Tesla. As the company’s largest shareholder, the Space X CEO’s net worth surged by an estimated $83 billion in the aftermath of the election. On the other hand, the President-elect, impressed by Elon Musk’s efficiency and financial success, has placed him at the helm of the ‘Department of Government Efficiency (DOGE),’ named after a memecoin.
Musk’s AI venture boosts his wealth to a new high
Elon Musk’s AI company, xAI, has skyrocketed in valuation, more than doubling to $50 billion in recent weeks, according to The Wall Street Journal. Musk’s 60% stake in the company added an extra $13 billion to his wealth. This marks a $70 billion increase from Election Day.
According to Forbes valuation, Musk’s net worth has skyrocketed from under $200 billion six months ago to surpassing $315 billion. He is now over $80 billion richer than his closest competitor, Larry Ellison, who has $235 billion.
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Tesla Stake: Musk’s 13% stake in Tesla is valued at $145 billion. A potential 9% equity award (pending court appeal) could add more.
SpaceX Value: His 42% stake in SpaceX, valued at $210 billion, contributes $88 billion to his fortune.
