Elon Musk, the CEO of Tesla, SpaceX, and founder of xAI, has once again broken records, becoming the world’s richest person with a staggering net worth of $347.8 billion. This milestone comes as Tesla stock surged 3.8% on Friday, coupled with a new funding round that valued Musk’s artificial intelligence startup, xAI, at an impressive $50 billion. The achievement surpasses his previous wealth peak of $340.4 billion set in 2021, according to the Bloomberg Billionaires Index.
Musk’s wealth has skyrocketed by an extraordinary $117.8 billion this year alone, firmly placing him $128 billion ahead of Amazon founder Jeff Bezos, whose net worth stands at $219 billion. This unprecedented growth underscores Musk’s dominance in the tech and electric vehicle industries.
Tesla’s Meteoric Rise
Tesla’s stock has been a key driver of Musk’s wealth. The automaker’s stock climbed to $352.56 at Friday’s close, up 42% year-to-date. This growth is partially attributed to Donald Trump’s victory in the U.S. presidential election, with investors speculating that Tesla could benefit from Musk’s close ties to the president-elect.
Musk’s active support for Trump, including donating over $100 million to Trump’s reelection efforts, has further linked Tesla’s fortunes to the political landscape. Musk’s super PAC also spent an estimated $200 million to support Trump’s campaign, underscoring the billionaire’s influence on U.S. politics.