Elon Musk, the CEO of Tesla and a tech billionaire, has achieved a milestone in his financial journey, with his wealth climbing to $348 billion.
By November 22, Musk’s fortune hit $347.8 billion, following Tesla’s market rally and the valuation of xAI at $50 billion after securing $50 million in new investments.
According to Bloomberg Billionaires Index, Musk's wealth has grown by an impressive 52% this year alone, amounting to $119 billion. This surge has positioned Musk as the world’s richest individual, with a lead of over $80 billion against Oracle chairman Larry Ellison, who holds the second spot with $235 billion.
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Tesla’s performance has played a pivotal role in this historic achievement. On November 22, Tesla's stock closed at $352.56, reflecting a 3.8% increase. Over the past six months, the electric vehicle giant's shares have almost doubled in value, now trailing just 15% behind their all-time high of $407, reached in November 2021.
Musk’s financial empire is primarily tied to his 13% stake in Tesla, valued at $145 billion, and 42% share in SpaceX, which had a valuation of $210 billion as of June.
David Axelrod, a former Senior Advisor to the US President, responded to the report by posting on X, stating:
Damn, here's one American already feeling an economic boost from Trump's election!
Musk’s pursuit of ventures shows no signs of slowing down, with his influence extending far beyond the tech world. Recently, Donald Trump tasked Musk to lead a government agency called "DOGE" with Vivek Ramaswamy. How could DOGE revolutionize how the US government operates? Read the full story.
