Elon Musk Becomes the Richest Person in History with $348 Billion Net Worth

Web Desk—Elon Musk, the visionary CEO of Tesla and SpaceX, has achieved a historic milestone: a staggering net worth of $348 billion. According to the Bloomberg Billionaires Index, this remarkable achievement cements Musk’s position as the wealthiest individual in history.

The sharp rise in Musk’s fortune follows a 40% surge in Tesla’s stock price since Election Day, buoyed by Wall Street optimism surrounding pro-business policies anticipated under President-elect Donald Trump. On Friday alone, Tesla shares climbed 3.8%, closing at $352.56 — their highest level in over three years.

This stock rally added $7 billion to Musk’s wealth, surpassing his previous peak of $320.3 billion, achieved during Tesla’s pandemic-era boom in November 2021.

Musk’s Key Role in the Trump Administration

Elon Musk’s support for Donald Trump has further strengthened investor confidence. Earlier this year, Musk endorsed Trump and contributed over $100 million to his campaign. This partnership has led to Musk’s appointment as chair of the “Department of Government Efficiency” (DOGE), where he will collaborate with biotech entrepreneur Vivek Ramaswamy to drive innovation in government operations.

Tesla and Full Self-Driving Gains

Wall Street analysts believe the incoming administration’s expected deregulation policies could significantly benefit Tesla, particularly in advancing its Full Self-Driving technology, which has faced regulatory hurdles in the past.

Beyond Tesla: Musk’s Expanding Empire

Musk’s wealth extends far beyond Tesla. His ventures in artificial intelligence and aerospace have played a significant role in his financial ascent:

xAI: Musk owns a 60% stake in this private AI firm, valued at $50 billion, adding $13 billion to his fortune.
SpaceX: Musk’s 42% ownership in SpaceX, valued at $210 billion in a recent tender offer, contributed $88 billion. Speculation about a new funding round valuing SpaceX at $250 billion could add another $18 billion to his net worth.

Musk’s Wealth vs. Other Billionaires

With a net worth of $348 billion, Musk is $80 billion ahead of Larry Ellison, Oracle’s chairman, who holds the second spot on the global rich list with $235 billion.

Tesla’s Market Performance

While Musk’s wealth continues to grow, Tesla shares remain 14% below their all-time high reached in late 2021. However, the broader S&P 500 has risen by 27% since then, reflecting a dynamic market environment.

From Tesla’s electric vehicles to SpaceX’s revolutionary space exploration and xAI’s cutting-edge AI developments, Elon Musk’s ventures continue to redefine industries and break records. As Musk’s empire expands, the world watches closely to see just how far his extraordinary journey will go.