WASHINGTON : Elon Musk, CEO of Tesla, has reached a record-breaking net worth of $348 billion, according to the Bloomberg Billionaires Index, making him the richest person in history.
This milestone was driven by Tesla’s stock surge, which gained 40% since Election Day, including a 3.8% jump on Friday that brought shares to $352.56—the highest in over three years. The rally came after Donald Trump’s election victory, with investors optimistic about his pro-business policies. Wall Street analysts believe these policies, including potential deregulation, could benefit Tesla’s Full Self-Driving initiatives, which have faced regulatory hurdles.
Musk’s close relationship with Trump has further boosted investor confidence. After endorsing Trump earlier this year and donating over $100 million to his campaign, Musk was named chair of the newly formed “Department of Government Efficiency” (DOGE), where he will collaborate with biotech entrepreneur Vivek Ramaswamy.
Beyond Tesla, Musk’s ventures in artificial intelligence and aerospace have significantly contributed to his fortune. His 60% stake in xAI, a private AI company valued at $50 billion, adds $13 billion, while his 42% stake in SpaceX, valued at $210 billion, contributes $88 billion. Speculation about SpaceX’s upcoming funding round, which could value the company at $250 billion, predicts Musk’s wealth could grow even further.
Currently, Musk is $80 billion ahead of Larry Ellison, Oracle’s chairman, who is the second-richest individual with a net worth of $235 billion. While most of Musk’s wealth comes from his 13% stake in Tesla, worth $145 billion, he also stands to gain from a pending 9% equity award in the company.
Despite these achievements, Tesla shares remain about 14% below their all-time high from late 2021, while the broader S&P 500 index has risen by 27% since then.
