Tesla CEO Elon Musk has reached a historic milestone, amassing a record-breaking net worth of $348 billion, according to the Bloomberg Billionaires Index.
This achievement secures Musk’s position as the wealthiest individual in history. His financial ascent is largely attributed to a significant surge in Tesla’s stock price, which has rallied sharply following Donald Trump’s recent electoral victory.
Tesla’s shares have soared 40% since Election Day, including a 3.8% increase on Friday, closing at $352.56—their highest level in over three years. This growth added $7 billion to Musk’s fortune, pushing his net worth beyond the previous high of $320.3 billion, achieved during Tesla’s pandemic-era boom in November 2021.
Wall Street analysts credit the stock’s rise to optimism surrounding pro-business policies expected under President-elect Trump. Musk’s endorsement of Trump earlier this year, coupled with a $100 million campaign donation, has bolstered investor confidence.
Additionally, Musk has been appointed chair of the new “Department of Government Efficiency” (DOGE), working alongside biotech entrepreneur Vivek Ramaswamy.
Tesla’s potential to benefit from anticipated regulatory rollbacks, particularly for its Full Self-Driving technology, has further fueled investor enthusiasm. Beyond Tesla, Musk’s other ventures in artificial intelligence and aerospace have significantly contributed to his wealth. His 60% stake in the AI firm xAI, valued at $50 billion, added $13 billion, while his 42% stake in SpaceX, valued at $210 billion in a recent tender offer, contributed $88 billion.
Speculation about a new SpaceX funding round, which could value the company at $250 billion, suggests Musk’s net worth might increase further, potentially by an additional $18 billion.
Musk’s wealth places him $80 billion ahead of Oracle chairman Larry Ellison, the world’s second-richest person with $235 billion. A majority of Musk’s fortune stems from his 13% stake in Tesla, valued at $145 billion, alongside a pending 9% equity award.
Despite this achievement, Tesla shares remain approximately 14% below their all-time high in late 2021, while the broader S&P 500 index has risen 27% since that time.
I am an experienced writer, analyst, and author. My exposure in English journalism spans more than 28 years. In the past, I have been working with daily The Muslim (Lahore Bureau), daily Business Recorder (Lahore/Islamabad Bureaus), Daily Times, Islamabad, daily The Nation (Lahore and Karachi). With daily The Nation, I have served as Resident Editor, Karachi. Since 2009, I have been working as a Freelance Writer/Editor for American organizations.
