Elon Musk has reached an all-time high in wealth, with his net worth soaring by $70 billion to over $340 billion following Donald Trump’s presidential election win. This milestone, confirmed by the Bloomberg Billionaires Index, cements Musk’s position as the world’s richest person, outpacing his previous peak of $320.3 billion in November 2021.
Tesla’s stock surged by 40% after the election, driven by investor optimism, contributing significantly to Musk’s fortune. By Friday, Tesla’s shares had risen another 3.8%, adding $7 billion to his wealth and pushing the stock to a 3.5-year high.
Musk’s AI venture, xAI, has also seen rapid growth, doubling in value to $50 billion. His 60% stake in the company added an additional $13 billion to his wealth, further driving the $70 billion increase since Election Day.
As the largest shareholder of Tesla and SpaceX, Musk’s ventures continue to pay off. His 13% stake in Tesla is valued at $145 billion, with a pending equity award potentially adding more. Meanwhile, his 42% stake in SpaceX is estimated at $88 billion of his $210 billion company valuation.
Musk’s rising wealth has coincided with growing political influence. The President-elect recently appointed him to lead the newly created Department of Government Efficiency (DOGE), recognizing Musk’s reputation for innovation and financial acumen.
Musk’s net worth, which has climbed from under $200 billion just six months ago, is now over $80 billion ahead of his closest rival, Larry Ellison, whose wealth is estimated at $235 billion.
