Elon Musk’s net worth has soared to unprecedented levels, solidifying his position as the wealthiest person in history. His fortune has reached a staggering $334.3 billion, fueled by a surge in Tesla’s stock prices and his investments in cutting-edge technologies.
Tesla’s Stock Surge and Its Impact
Tesla’s stock has experienced a remarkable 40% rise since Election Day, including a 3.8% gain on Friday, closing at $352.56 – the highest price in over three years. This surge added $7 billion to Musk’s fortune, surpassing the previous high of $320.3 billion, set during Tesla’s pandemic-era boom in November 2021.
Musk’s Alliance with Trump and Investor Confidence
Elon Musk’s close relationship with US President-elect Donald Trump has bolstered investor confidence. By endorsing Trump and contributing over $100 million to his campaign, Musk has strengthened his political connections.
Musk has also been appointed as the chair of the newly established “Department of Government Efficiency” (DOGE), where he will collaborate with biotech entrepreneur Vivek Ramaswamy. Wall Street analysts expect deregulation efforts under the new administration to benefit Tesla, especially in advancing its Full Self-Driving technology, which has faced regulatory challenges.
Diversified Ventures Fueling Musk’s Wealth
Beyond Tesla, Elon Musk’s investments in artificial intelligence and aerospace have significantly contributed to his wealth:
- xAI: Musk’s 60% stake in this private AI firm, valued at $50 billion, has added $13 billion to his fortune.
- SpaceX: His 42% stake in SpaceX, valued at $210 billion during a June tender offer, has contributed $88 billion.
Speculation around SpaceX’s upcoming funding round, potentially valuing the company at $250 billion, suggests Musk’s net worth could increase by another $18 billion.
Comparison with Other Billionaires
Elon Musk’s current net worth places him $80 billion ahead of Oracle’s chairman Larry Ellison, the world’s second-richest individual with $235 billion. Musk’s wealth largely stems from:
- A 13% stake in Tesla, valued at $145 billion.
- A pending 9% equity award in Tesla.
Tesla’s Performance and Market Context
While Musk’s fortune continues to rise, Tesla’s shares are still 14% below their all-time high from late 2021. In contrast, the S&P 500 index has climbed 27% during the same period.
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