Elon Musk, CEO of Tesla, recently saw his net worth soar by more than $50 billion in just a few days, reaching a remarkable $314 billion, according to Bloomberg’s latest reports. Fortune magazine noted that “the world’s richest man is only getting richer” as Musk’s wealth surpassed the $300 billion mark for the first time in nearly three years, solidifying his position as the world’s wealthiest person. His net worth now exceeds that of the second-richest, Jeff Bezos, by $84 billion.
This impressive increase in Musk’s fortune largely stems from Tesla’s positive stock performance following Donald Trump’s re-election as U.S. President. On November 6, Tesla shares surged 14.7%, their highest since July 2022, adding $26.5 billion to Musk’s wealth in just one trading session and lifting his net worth to $290 billion. After the latest trading session, his assets grew by an additional $17.4 billion.
Investor optimism about the incoming Trump administration is believed to have driven Tesla’s stock gains, with Trump pledging policies favorable to Musk’s business interests, including a potential ban on Chinese self-driving electric vehicles, which could benefit Tesla’s own robotaxi initiative.
Elon Musk, born in 1971, is one of Trump’s most prominent supporters. This year, Musk contributed over $130 million to America PAC, a super PAC that played a significant role in Trump’s victory. Musk was also active on social media platform X (formerly Twitter), rallying support for the Republican candidate. Additionally, the President-elect has hinted at appointing Musk as Secretary of the Department of Government Efficiency (DOGE).
Trailing Musk and Bezos, Meta CEO Mark Zuckerberg ranks third with a net worth of $209 billion. Other familiar billionaires in the top 10 include Larry Ellison, Bernard Arnault, Bill Gates, Larry Page, Sergey Brin, Steve Ballmer, and Warren Buffett.
Bloomberg estimates that the combined wealth of the world’s top 10 billionaires increased by nearly $64 billion on November 6, following the news of Trump’s election win—a record single-day gain since 2012.
