Elon Musk, the world’s richest person, has hit a new milestone, crossing the $300 billion mark in net worth, further cementing his position as the wealthiest individual on Earth. This comes on the back of Tesla’s massive 31% surge in share prices over just a few days, coupled with his increasing influence in U.S. politics, following the victory of Donald Trump in the 2024 U.S. presidential election.
Elon Musk has long been an influential figure in the world of technology and business, but his increasing alignment with the right-wing political spectrum has further boosted his prominence. During the pandemic years, Musk leaned more towards the political right and eventually became one of the biggest supporters of Donald Trump. His endorsement helped fund Trump’s campaign efforts, solidifying his relationship with the incoming president.
Musk’s involvement in the political arena recently became even more apparent when he participated in a telephonic conversation between Trump and Ukrainian President Volodymyr Zelenskyy. Reports suggest Musk was on the call, further indicating his rising political influence and his proximity to global decision-makers.
Tesla, Musk’s electric vehicle company, is a key contributor to his expanding fortune. Over the past few days, the company’s share price has rocketed by an extraordinary 31.46%, translating to a gain of $76.88 per share. This surge follows a tough start to 2024, where Tesla faced global challenges such as a slowdown in EV demand and competition from Chinese automaker BYD. However, the recent upswing in shares has positioned Tesla at $321.22 per share, leading to a significant boost in Musk’s wealth.
Thanks to the sharp rise in Tesla’s stock price, Elon Musk’s personal wealth has soared by nearly 30% in just a matter of days. As of the latest estimates from Forbes, Musk’s net worth has surpassed $304 billion, well ahead of his nearest rival, Larry Ellison, who stands at $230.7 billion. Musk’s rise to these heights further underscores his dominance in the business world and his expanding influence both politically and financially.
This remarkable surge in wealth highlights Musk’s continued success in reshaping industries and his growing influence in both global politics and the business landscape. With Tesla’s renewed growth and his political clout, Elon Musk is not only richer than ever but also in a position of unprecedented power.
