Tesla CEO Elon Musk Breaks Wealth Records with $348 Billion Fortune

Elon Musk, the visionary CEO of Tesla, SpaceX, and other groundbreaking ventures, has become the richest individual in history. With a net worth of $348 billion, Musk has surpassed all previous records, as reported by the Bloomberg Billionaires Index.

Tesla’s Stock Market Rally

This financial milestone is primarily attributed to the sharp rise in Tesla’s stock. Following Donald Trump’s presidential victory, Tesla shares jumped 40%, fueled by Wall Street’s anticipation of pro-business policies. On Friday alone, the stock climbed 3.8%, closing at $352.56, its highest in over three years.

These gains added $7 billion to Musk’s wealth, surpassing the previous peak of $320.3 billion set during Tesla’s meteoric rise in 2021.

The Trump Connection

Musk’s relationship with the incoming administration has played a role in boosting investor confidence. His endorsement of Trump, coupled with a $100 million campaign donation, has positioned Musk as a key ally. He has been appointed to lead the “Department of Government Efficiency” (DOGE), where he will collaborate with biotech entrepreneur Vivek Ramaswamy.

Diversified Wealth Sources

Musk’s financial empire extends beyond Tesla. His ventures in artificial intelligence, represented by his 60% stake in xAI (valued at $50 billion), added $13 billion to his wealth. Similarly, his 42% stake in SpaceX contributed $88 billion, with expectations of further gains as the company’s valuation nears $250 billion.

Leading the Billionaire Pack

With this milestone, Musk is $80 billion ahead of Oracle Chairman Larry Ellison, the second-richest person with $235 billion. Despite Tesla’s shares remaining 14% below their 2021 peak, the broader S&P 500 has risen 27%, indicating the potential for further growth in Musk’s fortune.