Elon Musk Becomes Richest Person in History with Record $348 Billion Net Worth
Tesla CEO Elon Musk has reached a historic personal wealth milestone, with his net worth soaring to $348 billion, according to the Bloomberg Billionaires Index. This achievement solidifies Musk’s position as the wealthiest individual in history.
Musk’s wealth surged following a sharp rise in Tesla’s stock price, which gained momentum after Donald Trump’s electoral victory. Wall Street’s optimism over the pro-business policies anticipated under the incoming administration contributed to Tesla’s 40% stock rally since Election Day. On Friday alone, the stock climbed 3.8%, closing at $352.56 – its highest level in over three years – adding $7 billion to Musk’s fortune.
This increase pushed Musk’s net worth beyond the previous record of $320.3 billion, set in November 2021 during Tesla’s pandemic-era peak. Musk’s close relationship with Trump has also bolstered investor confidence. Having endorsed Trump earlier this year, Musk donated over $100 million to his campaign and was appointed chair of the newly created “Department of Government Efficiency” (DOGE), where he will collaborate with biotech entrepreneur Vivek Ramaswamy.
Analysts attribute Tesla’s growth to the anticipated deregulation under Trump’s administration, which is expected to benefit Tesla’s Full Self-Driving program, a technology that has faced regulatory hurdles.
Beyond Tesla, Musk’s other ventures have significantly boosted his wealth. His 60% stake in xAI, a private AI company valued at $50 billion, contributed $13 billion to his net worth. Additionally, his 42% ownership of SpaceX, recently valued at $210 billion, added $88 billion. Speculation about SpaceX’s potential funding round, which could raise its valuation to $250 billion, may increase Musk’s fortune by another $18 billion.
Musk now holds an $80 billion lead over Oracle chairman Larry Ellison, the world’s second-richest person, whose net worth stands at $235 billion. Most of Musk’s wealth comes from his 13% stake in Tesla, currently valued at $145 billion, along with a pending 9% equity award in the company.
Despite his record-breaking fortune, Tesla shares remain 14% below their all-time high from late 2021, while the broader S&P 500 index has risen 27% during the same period. Musk’s ongoing success in AI, aerospace, and electric vehicles suggests his wealth could climb even higher in the near future.
